Clearwater Paper (NYSE:CLW) Downgraded to “Sell” Rating by StockNews.com

by · The Markets Daily

Clearwater Paper (NYSE:CLW – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $37.00 price target on shares of Clearwater Paper in a research report on Tuesday.

Check Out Our Latest Analysis on Clearwater Paper

Clearwater Paper Stock Up 3.6 %

Shares of NYSE:CLW traded up $1.02 on Wednesday, reaching $29.04. The company had a trading volume of 670,577 shares, compared to its average volume of 245,253. Clearwater Paper has a 52-week low of $24.51 and a 52-week high of $57.13. The firm’s 50 day simple moving average is $28.62 and its 200-day simple moving average is $40.37. The firm has a market capitalization of $482.94 million, a PE ratio of 33.77 and a beta of 0.34. The company has a current ratio of 1.73, a quick ratio of 0.74 and a debt-to-equity ratio of 1.73.

Clearwater Paper (NYSE:CLW – Get Free Report) last announced its earnings results on Tuesday, August 6th. The basic materials company reported ($0.42) earnings per share for the quarter. Clearwater Paper had a return on equity of 4.34% and a net margin of 0.74%. The business had revenue of $586.40 million for the quarter.

Clearwater Paper announced that its board has approved a stock buyback program on Monday, November 4th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the basic materials company to repurchase up to 23.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Clearwater Paper

A number of large investors have recently made changes to their positions in the stock. Empowered Funds LLC grew its position in shares of Clearwater Paper by 5.3% in the third quarter. Empowered Funds LLC now owns 106,519 shares of the basic materials company’s stock valued at $3,040,000 after purchasing an additional 5,360 shares in the last quarter. Royce & Associates LP grew its position in Clearwater Paper by 158.2% in the third quarter. Royce & Associates LP now owns 25,340 shares of the basic materials company’s stock worth $723,000 after acquiring an additional 15,525 shares during the period. Victory Capital Management Inc. grew its position in Clearwater Paper by 63.9% in the third quarter. Victory Capital Management Inc. now owns 50,240 shares of the basic materials company’s stock worth $1,434,000 after acquiring an additional 19,580 shares during the period. nVerses Capital LLC purchased a new position in Clearwater Paper in the third quarter worth approximately $74,000. Finally, BOS Asset Management LLC grew its position in Clearwater Paper by 40.0% in the third quarter. BOS Asset Management LLC now owns 18,609 shares of the basic materials company’s stock worth $531,000 after acquiring an additional 5,315 shares during the period. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

About Clearwater Paper

(Get Free Report)

Clearwater Paper Corporation manufactures and supplies bleached paperboards, and consumer and parent roll tissues in the United States and internationally. It operates through Pulp and Paperboard, and Consumer Products segments. The Pulp and Paperboard segment manufactures and markets bleached paperboard; Solid Bleached Sulfate paperboard that is used to produce folding cartons, liquid packaging, cups and plates, blister and carded packaging, and top sheet and commercial printing items; and hardwood and softwood pulp, as well as offers services that include custom sheeting, slitting, and cutting.

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