Clearwater Paper (CLW) Sets New 52-Week Low on Analyst Downgrade

Shares of Clearwater Paper Corp (NYSE:CLW) reached a new 52-week low on Thursday after DA Davidson lowered their price target on the stock to $44.00. DA Davidson currently has a buy rating on the stock. Clearwater Paper traded as low as $21.12 and last traded at $22.49, with a volume of 341152 shares. The stock had previously closed at $22.46.

A number of other research firms have also weighed in on CLW. ValuEngine raised shares of Clearwater Paper from a “sell” rating to a “hold” rating in a research note on Tuesday, November 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price target on shares of Clearwater Paper in a research report on Wednesday. Finally, Zacks Investment Research raised shares of Clearwater Paper from a “hold” rating to a “strong-buy” rating and set a $30.00 price target for the company in a research report on Thursday, November 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $34.25.

Hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its position in shares of Clearwater Paper by 8.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 4,440 shares of the basic materials company’s stock valued at $108,000 after buying an additional 337 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its position in shares of Clearwater Paper by 390.2% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,726 shares of the basic materials company’s stock valued at $140,000 after buying an additional 4,558 shares during the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in shares of Clearwater Paper during the fourth quarter valued at about $153,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Clearwater Paper during the third quarter valued at about $238,000. Finally, Man Group plc purchased a new stake in shares of Clearwater Paper during the third quarter valued at about $255,000. 87.63% of the stock is owned by institutional investors and hedge funds.

The stock has a market cap of $437.84 million, a P/E ratio of 8.85, a P/E/G ratio of 3.89 and a beta of 1.80. The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 1.07.

Clearwater Paper (NYSE:CLW) last announced its quarterly earnings data on Tuesday, March 12th. The basic materials company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The firm had revenue of $428.71 million during the quarter, compared to analyst estimates of $413.21 million. Clearwater Paper had a negative net margin of 8.34% and a positive return on equity of 7.00%.

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About Clearwater Paper (NYSE:CLW)

Clearwater Paper Corporation produces and sells produces and sells private label tissue and bleached paperboard products in the United States and internationally. It operates in two segments, Consumer Products, and Pulp and Paperboard. The Consumer Products segment manufactures and sells a line of at-home tissue products, including bathroom tissues, paper towels, facial tissues, and napkins; recycled fiber value grade products; and away-from-home products, such as conventional one- and two-ply bath tissues, two-ply paper towels, hard wound towels, and dispenser napkins.

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