Truist Financial Has Lowered Expectations for Clearwater Paper (NYSE:CLW) Stock Price

Clearwater Paper (NYSE:CLW) had its target price lowered by equities research analysts at Truist Financial from $16.00 to $15.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the basic materials company’s stock. Truist Financial’s target price suggests a potential upside of 1.41% from the stock’s current price.

Several other brokerages have also commented on CLW. TD Securities cut their price target on shares of Clearwater Paper from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Weiss Ratings reissued a “sell (d+)” rating on shares of Clearwater Paper in a research report on Monday, December 29th. Finally, Royal Bank Of Canada lowered their price target on shares of Clearwater Paper from $25.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $21.25.

Clearwater Paper Stock Down 0.9%

CLW stock opened at $14.79 on Wednesday. The firm has a 50 day moving average of $14.93 and a 200 day moving average of $17.25. The stock has a market capitalization of $237.25 million, a PE ratio of -13.21 and a beta of 0.22. The company has a quick ratio of 1.13, a current ratio of 2.43 and a debt-to-equity ratio of 0.42. Clearwater Paper has a 52 week low of $12.44 and a 52 week high of $30.96.

Clearwater Paper (NYSE:CLW) last announced its quarterly earnings data on Wednesday, February 18th. The basic materials company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.08. The business had revenue of $386.40 million during the quarter, compared to analysts’ expectations of $379.00 million. Clearwater Paper had a negative net margin of 1.20% and a negative return on equity of 2.11%.

Hedge Funds Weigh In On Clearwater Paper

Several hedge funds have recently added to or reduced their stakes in CLW. Millennium Management LLC increased its stake in Clearwater Paper by 158.1% in the fourth quarter. Millennium Management LLC now owns 360,795 shares of the basic materials company’s stock valued at $6,278,000 after purchasing an additional 221,029 shares during the last quarter. UBS Group AG increased its stake in Clearwater Paper by 228.3% in the third quarter. UBS Group AG now owns 258,186 shares of the basic materials company’s stock valued at $5,360,000 after purchasing an additional 179,539 shares during the last quarter. Invenomic Capital Management LP increased its stake in Clearwater Paper by 113.0% in the fourth quarter. Invenomic Capital Management LP now owns 320,212 shares of the basic materials company’s stock valued at $5,572,000 after purchasing an additional 169,880 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Clearwater Paper by 33.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 557,953 shares of the basic materials company’s stock valued at $9,708,000 after purchasing an additional 139,013 shares during the last quarter. Finally, Readystate Asset Management LP increased its stake in Clearwater Paper by 19.2% in the third quarter. Readystate Asset Management LP now owns 762,138 shares of the basic materials company’s stock valued at $15,822,000 after purchasing an additional 122,688 shares during the last quarter. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

About Clearwater Paper

Clearwater Paper Corporation is an independent manufacturer of premium tissue and pulp and paperboard products for private-label and commercial customers in North America. The company operates through two core segments: Consumer Products, which produces bathroom tissue, paper towels and other away-from-home tissue products under private-label contracts; and Pulp & Paperboard, which supplies bleached paperboard used in folding cartons, foodservice packaging and specialty paper applications.

The Consumer Products segment services retail grocers, warehouse clubs, online merchants and janitorial distributors, leveraging multiple converting facilities to produce roll and folded tissue items for both household and institutional use.