Truist Financial Forecasts Strong Price Appreciation for Clearwater Paper (NYSE:CLW) Stock

Clearwater Paper (NYSE:CLW) had its target price upped by equities research analysts at Truist Financial from $12.00 to $17.00 in a report released on Wednesday, MarketBeat reports. The brokerage presently has a “hold” rating on the basic materials company’s stock. Truist Financial’s target price would indicate a potential upside of 4.45% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the company. TD Cowen cut Clearwater Paper from a “buy” rating to a “hold” rating and set a $17.00 price objective for the company. in a report on Wednesday, April 29th. TD lowered shares of Clearwater Paper from a “buy” rating to a “hold” rating and lowered their target price for the stock from $19.00 to $17.00 in a report on Wednesday, April 29th. Royal Bank Of Canada dropped their target price on shares of Clearwater Paper from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Zacks Research raised shares of Clearwater Paper to a “hold” rating in a report on Monday, July 6th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Clearwater Paper in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.17.

Clearwater Paper Trading Up 5.1%

Shares of CLW opened at $16.28 on Wednesday. Clearwater Paper has a 1 year low of $11.73 and a 1 year high of $30.96. The company has a current ratio of 2.61, a quick ratio of 1.26 and a debt-to-equity ratio of 0.44. The stock has a 50 day simple moving average of $15.54 and a 200-day simple moving average of $15.79. The stock has a market cap of $262.37 million, a PE ratio of -10.57 and a beta of 0.27.

Clearwater Paper (NYSE:CLW) last posted its earnings results on Tuesday, April 28th. The basic materials company reported ($1.29) EPS for the quarter, topping the consensus estimate of ($1.32) by $0.03. Clearwater Paper had a negative return on equity of 3.94% and a negative net margin of 1.63%.The business had revenue of $360.30 million during the quarter, compared to the consensus estimate of $363.55 million. On average, sell-side analysts predict that Clearwater Paper will post -3.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Clearwater Paper

Institutional investors and hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. bought a new stake in shares of Clearwater Paper during the fourth quarter worth $47,000. Group One Trading LLC increased its stake in shares of Clearwater Paper by 184.4% in the first quarter. Group One Trading LLC now owns 3,572 shares of the basic materials company’s stock valued at $51,000 after buying an additional 2,316 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Clearwater Paper by 34.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,185 shares of the basic materials company’s stock valued at $60,000 after buying an additional 563 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Clearwater Paper by 26.4% in the second quarter. Versant Capital Management Inc now owns 4,627 shares of the basic materials company’s stock valued at $73,000 after buying an additional 965 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Clearwater Paper by 608.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,585 shares of the basic materials company’s stock worth $179,000 after buying an additional 5,656 shares in the last quarter. Institutional investors and hedge funds own 89.98% of the company’s stock.

Clearwater Paper Company Profile

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.