Clearwater Paper Corporation (CLW) Receives Consensus Recommendation of “Hold” from Brokerages

Clearwater Paper Corporation (NYSE:CLW) has earned an average recommendation of “Hold” from the eight ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $60.00.

CLW has been the topic of a number of research analyst reports. Zacks Investment Research lowered Clearwater Paper Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Royal Bank Of Canada dropped their price target on Clearwater Paper Corporation from $63.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Friday, August 4th. Finally, BidaskClub lowered Clearwater Paper Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th.

In related news, insider Michael S. Gadd sold 877 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $50.01, for a total value of $43,858.77. Following the sale, the insider now owns 19,010 shares in the company, valued at $950,690.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael S. Gadd sold 1,546 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $50.04, for a total value of $77,361.84. Following the completion of the sale, the insider now owns 17,464 shares in the company, valued at approximately $873,898.56. The disclosure for this sale can be found here. 2.41% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CLW. BlackRock Inc. boosted its position in Clearwater Paper Corporation by 138,458.4% in the first quarter. BlackRock Inc. now owns 2,157,355 shares of the basic materials company’s stock valued at $120,812,000 after buying an additional 2,155,798 shares during the last quarter. Capital World Investors purchased a new stake in Clearwater Paper Corporation in the second quarter valued at approximately $18,233,000. Northern Trust Corp boosted its position in Clearwater Paper Corporation by 56.7% in the 2nd quarter. Northern Trust Corp now owns 351,814 shares of the basic materials company’s stock worth $16,447,000 after purchasing an additional 127,309 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Clearwater Paper Corporation by 9.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,316,600 shares of the basic materials company’s stock worth $61,551,000 after purchasing an additional 109,084 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its position in Clearwater Paper Corporation by 27.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 394,107 shares of the basic materials company’s stock worth $18,425,000 after purchasing an additional 86,035 shares in the last quarter. Hedge funds and other institutional investors own 84.51% of the company’s stock.

Shares of Clearwater Paper Corporation (NYSE CLW) opened at 47.10 on Tuesday. The stock has a market cap of $773.99 million, a P/E ratio of 30.37 and a beta of 1.07. Clearwater Paper Corporation has a one year low of $43.60 and a one year high of $68.40. The stock’s 50 day moving average is $46.25 and its 200-day moving average is $48.96.

Clearwater Paper Corporation (NYSE:CLW) last issued its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.08. Clearwater Paper Corporation had a return on equity of 7.74% and a net margin of 1.49%. The business had revenue of $429.70 million for the quarter, compared to analyst estimates of $439.33 million. During the same quarter in the previous year, the firm earned $1.37 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. On average, equities analysts forecast that Clearwater Paper Corporation will post $2.64 EPS for the current year.

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Clearwater Paper Corporation 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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