Clearwater Paper (NYSE:CLW) Now Covered by Analysts at Truist Financial

Truist Financial began coverage on shares of Clearwater Paper (NYSE:CLW) in a research report released on Tuesday morning, Marketbeat reports. The firm issued a hold rating and a $21.00 price target on the basic materials company’s stock.

Other equities analysts have also issued reports about the stock. Cowen assumed coverage on shares of Clearwater Paper in a research report on Monday, September 22nd. They set a “buy” rating on the stock. Royal Bank Of Canada decreased their target price on shares of Clearwater Paper from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. TD Cowen began coverage on shares of Clearwater Paper in a research report on Monday, September 22nd. They issued a “buy” rating and a $30.00 price target for the company. TD Securities set a $30.00 price target on Clearwater Paper and gave the company a “buy” rating in a research note on Monday, September 22nd. Finally, Wall Street Zen upgraded Clearwater Paper from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.75.

Clearwater Paper Stock Performance

NYSE:CLW opened at $18.19 on Tuesday. The stock has a 50 day simple moving average of $18.28 and a 200 day simple moving average of $20.88. The stock has a market cap of $291.77 million, a P/E ratio of 2.17 and a beta of 0.20. Clearwater Paper has a 1-year low of $16.44 and a 1-year high of $33.56. The company has a current ratio of 2.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.43.

Clearwater Paper (NYSE:CLW) last issued its quarterly earnings data on Tuesday, October 28th. The basic materials company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.02. Clearwater Paper had a negative return on equity of 3.65% and a net margin of 9.14%.The firm had revenue of $399.00 million for the quarter, compared to analyst estimates of $387.86 million.

Insider Activity at Clearwater Paper

In related news, VP Steve M. Bowden sold 8,889 shares of the company’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $18.14, for a total transaction of $161,246.46. Following the completion of the sale, the vice president directly owned 68,516 shares in the company, valued at $1,242,880.24. This represents a 11.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Brandywine Global Investment Management LLC acquired a new stake in shares of Clearwater Paper in the 2nd quarter valued at approximately $1,907,000. Assenagon Asset Management S.A. lifted its stake in Clearwater Paper by 74.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 84,202 shares of the basic materials company’s stock valued at $1,748,000 after purchasing an additional 36,022 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Clearwater Paper by 27.7% in the second quarter. Public Employees Retirement System of Ohio now owns 22,050 shares of the basic materials company’s stock valued at $601,000 after buying an additional 4,777 shares in the last quarter. Bailard Inc. acquired a new stake in Clearwater Paper in the second quarter valued at approximately $251,000. Finally, First Eagle Investment Management LLC grew its stake in shares of Clearwater Paper by 125.9% during the second quarter. First Eagle Investment Management LLC now owns 189,558 shares of the basic materials company’s stock worth $5,164,000 after buying an additional 105,645 shares during 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.