TD Securities Lowers Clearwater Paper (NYSE:CLW) Price Target to $20.00

Clearwater Paper (NYSE:CLW) had its target price decreased by equities research analysts at TD Securities from $25.00 to $20.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. TD Securities’ target price suggests a potential upside of 30.93% from the stock’s previous close.

CLW has been the subject of a number of other research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Clearwater Paper in a research report on Monday, December 29th. Truist Financial cut their price target on Clearwater Paper from $21.00 to $16.00 and set a “hold” rating for the company in a report on Thursday. Royal Bank Of Canada reduced their price objective on Clearwater Paper from $33.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Finally, Wall Street Zen upgraded Clearwater Paper from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Clearwater Paper has an average rating of “Hold” and an average target price of $22.25.

Clearwater Paper Trading Down 0.6%

Shares of CLW opened at $15.28 on Thursday. The firm has a market cap of $245.01 million, a P/E ratio of -13.64 and a beta of 0.20. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.43 and a quick ratio of 0.88. Clearwater Paper has a 1 year low of $15.05 and a 1 year high of $30.96. The company has a 50 day simple moving average of $18.05 and a two-hundred day simple moving average of $19.25.

Clearwater Paper (NYSE:CLW) last issued its earnings results on Wednesday, February 18th. The basic materials company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.08. The firm had revenue of $386.40 million during the quarter, compared to analyst estimates of $379.00 million. Clearwater Paper had a negative net margin of 1.20% and a negative return on equity of 2.11%.

Insider Buying and Selling

In other Clearwater Paper news, VP Steve M. Bowden sold 8,889 shares of the business’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $18.14, for a total transaction of $161,246.46. Following the transaction, the vice president owned 68,516 shares in the company, valued at $1,242,880.24. The trade was a 11.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Clearwater Paper

Institutional investors have recently made changes to their positions in the company. Readystate Asset Management LP grew its holdings in Clearwater Paper by 19.2% during the 3rd 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. Charles Schwab Investment Management Inc. boosted its position in shares of Clearwater Paper by 33.2% during 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 buying an additional 139,013 shares during the period. Towle & Co. grew its stake in shares of Clearwater Paper by 12.4% during the third quarter. Towle & Co. now owns 366,798 shares of the basic materials company’s stock valued at $7,615,000 after buying an additional 40,575 shares during the last quarter. Millennium Management LLC grew its stake in shares of Clearwater Paper by 158.1% during the fourth quarter. Millennium Management LLC now owns 360,795 shares of the basic materials company’s stock valued at $6,278,000 after buying an additional 221,029 shares during the last quarter. Finally, Invenomic Capital Management LP raised its holdings in shares of 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 worth $5,572,000 after buying an additional 169,880 shares during the period. Institutional investors 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.