Clearwater Paper (CLW) Raised to Hold at Zacks Investment Research
Clearwater Paper (NYSE:CLW) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Clearwater Paper,a standalone company,produces pulp and paperboard at six facilities across the country namely Lewiston, Idaho; Las Vegas, Nev.; Elwood, Ill.; and near McGehee, Ark. The company manufactures quality paperboard, consumer tissue, and wood products.It has direct access to the public capital markets .The company is a premier supplier of private label tissue to major retail grocery chains, and also produces bleached paperboard used by quality-conscious printers and packaging converters. “
Separately, KeyCorp restated a “hold” rating on shares of Clearwater Paper in a report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $60.00.
Clearwater Paper (CLW) traded down $0.95 during trading hours on Tuesday, hitting $46.20. The stock had a trading volume of 71,765 shares, compared to its average volume of 95,512. The company has a market capitalization of $761.69, a PE ratio of 22.06, a P/E/G ratio of 4.19 and a beta of 1.02. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.43 and a current ratio of 1.11. Clearwater Paper has a 52 week low of $42.20 and a 52 week high of $68.40.
Clearwater Paper (NYSE:CLW) last released its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.18. The company had revenue of $426.50 million for the quarter, compared to analysts’ expectations of $426.87 million. Clearwater Paper had a return on equity of 7.38% and a net margin of 1.50%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.14 earnings per share. equities analysts forecast that Clearwater Paper will post 2.22 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its stake in shares of Clearwater Paper by 0.9% in the second quarter. PNC Financial Services Group Inc. now owns 7,372 shares of the basic materials company’s stock worth $345,000 after acquiring an additional 68 shares during the period. Texas Permanent School Fund lifted its stake in shares of Clearwater Paper by 0.6% in the second quarter. Texas Permanent School Fund now owns 11,996 shares of the basic materials company’s stock worth $561,000 after acquiring an additional 76 shares during the period. Stevens Capital Management LP lifted its stake in shares of Clearwater Paper by 2.4% in the second quarter. Stevens Capital Management LP now owns 8,575 shares of the basic materials company’s stock worth $401,000 after acquiring an additional 205 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Clearwater Paper by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,539 shares of the basic materials company’s stock worth $119,000 after acquiring an additional 380 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Clearwater Paper by 17.2% in the second quarter. Public Employees Retirement System of Ohio now owns 2,861 shares of the basic materials company’s stock worth $134,000 after acquiring an additional 420 shares during the period. 86.21% of the stock is currently owned by institutional investors.
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Clearwater Paper Company Profile
Clearwater Paper Corporation manufactures consumer tissue, away-from-home (AFH) tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The Company operates through two segments: Consumer Products segment, and Pulp and Paperboard segment. The Company’s Consumer Products segment manufactures and sells a line of at-home tissue products, as well as AFH products.
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