Royal Bank of Canada Increases Clearwater Paper (NYSE:CLW) Price Target to $42.00

Clearwater Paper (NYSE:CLW) had its price objective boosted by research analysts at Royal Bank of Canada from $41.00 to $42.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the basic materials company’s stock. Royal Bank of Canada’s price target points to a potential downside of 5.58% from the stock’s previous close.

Separately, StockNews.com lowered shares of Clearwater Paper from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 22nd.

Clearwater Paper Stock Down 1.2 %

Shares of CLW stock opened at $44.48 on Tuesday. The stock has a market cap of $736.59 million, a P/E ratio of 7.44 and a beta of 0.52. Clearwater Paper has a 52 week low of $29.22 and a 52 week high of $47.98. The company’s fifty day simple moving average is $40.66 and its two-hundred day simple moving average is $37.11. The company has a quick ratio of 0.85, a current ratio of 1.97 and a debt-to-equity ratio of 0.69.

Clearwater Paper (NYSE:CLW) last posted its earnings results on Monday, April 29th. The basic materials company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.32. Clearwater Paper had a net margin of 4.92% and a return on equity of 17.63%. The firm had revenue of $496.20 million for the quarter. During the same quarter last year, the firm earned $1.47 earnings per share.

Institutional Investors Weigh In On Clearwater Paper

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its stake in Clearwater Paper by 2.8% during the 3rd quarter. Invesco Ltd. now owns 420,359 shares of the basic materials company’s stock worth $15,238,000 after buying an additional 11,293 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Clearwater Paper by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 325,904 shares of the basic materials company’s stock valued at $11,772,000 after acquiring an additional 4,185 shares in the last quarter. American Century Companies Inc. raised its position in shares of Clearwater Paper by 8.9% in the 3rd quarter. American Century Companies Inc. now owns 284,146 shares of the basic materials company’s stock valued at $10,300,000 after purchasing an additional 23,231 shares during the last quarter. Wasatch Advisors LP purchased a new stake in Clearwater Paper during the 4th quarter worth approximately $9,909,000. Finally, Assenagon Asset Management S.A. increased its stake in Clearwater Paper by 31.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 177,048 shares of the basic materials company’s stock valued at $7,742,000 after purchasing an additional 42,365 shares in the last quarter. Institutional investors own 89.98% of the company’s stock.

About Clearwater Paper

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.