Clearwater Paper (NYSE:CLW) Rating Increased to Hold at StockNews.com

Clearwater Paper (NYSE:CLW) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Monday.

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $37.00 target price on shares of Clearwater Paper in a report on Tuesday, November 5th.

Clearwater Paper Price Performance

Clearwater Paper stock opened at $28.11 on Monday. The stock’s fifty day moving average price is $29.54 and its two-hundred day moving average price is $29.37. The firm has a market cap of $465.70 million, a PE ratio of 32.68 and a beta of 0.35. Clearwater Paper has a one year low of $23.97 and a one year high of $57.13. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.78 and a quick ratio of 1.13.

Clearwater Paper (NYSE:CLW) last issued its earnings results on Thursday, February 13th. The basic materials company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.84). Clearwater Paper had a net margin of 0.74% and a return on equity of 4.35%.

Clearwater Paper announced that its board has authorized a stock buyback plan on Monday, November 4th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the basic materials company to reacquire up to 23.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Clearwater Paper

Several hedge funds have recently modified their holdings of CLW. nVerses Capital LLC acquired a new stake in shares of Clearwater Paper during the 3rd quarter valued at $74,000. Paloma Partners Management Co acquired a new stake in shares of Clearwater Paper during the 3rd quarter valued at $209,000. Virtu Financial LLC acquired a new stake in shares of Clearwater Paper during the 4th quarter valued at $217,000. D.A. Davidson & CO. boosted its holdings in shares of Clearwater Paper by 23.4% during the 3rd quarter. D.A. Davidson & CO. now owns 7,900 shares of the basic materials company’s stock valued at $225,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Clearwater Paper during the 4th quarter valued at $226,000. Institutional investors and hedge funds 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.