Royal Bank of Canada Reaffirms “Outperform” Rating for Clearwater Paper (NYSE:CLW)

Royal Bank of Canada reiterated their outperform rating on shares of Clearwater Paper (NYSE:CLW) in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has a $37.00 price objective on the basic materials company’s stock.

Separately, StockNews.com lowered shares of Clearwater Paper from a “buy” rating to a “hold” rating in a report on Thursday, August 8th.

Clearwater Paper Price Performance

NYSE CLW opened at $28.03 on Tuesday. Clearwater Paper has a 52 week low of $24.51 and a 52 week high of $57.13. The firm has a market capitalization of $466.14 million, a P/E ratio of 10.46 and a beta of 0.34. The company has a quick ratio of 0.74, a current ratio of 1.73 and a debt-to-equity ratio of 1.73. The company has a 50-day moving average price of $28.62 and a 200-day moving average price of $40.37.

Clearwater Paper (NYSE:CLW) last released its quarterly earnings results on Tuesday, August 6th. The basic materials company reported ($0.42) EPS for the quarter. The business had revenue of $586.40 million for the quarter. Clearwater Paper had a net margin of 2.16% and a return on equity of 11.56%.

Clearwater Paper declared that its board has approved a share repurchase plan on Monday, November 4th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the basic materials company to purchase up to 23.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Clearwater Paper

A number of institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in Clearwater Paper by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,408,298 shares of the basic materials company’s stock worth $68,261,000 after purchasing an additional 10,074 shares during the period. Pacer Advisors Inc. increased its stake in Clearwater Paper by 26.2% in the second quarter. Pacer Advisors Inc. now owns 1,299,972 shares of the basic materials company’s stock worth $63,010,000 after purchasing an additional 269,937 shares during the period. Vanguard Group Inc. increased its stake in Clearwater Paper by 1.4% in the first quarter. Vanguard Group Inc. now owns 1,218,874 shares of the basic materials company’s stock worth $53,301,000 after purchasing an additional 17,166 shares during the period. American Century Companies Inc. increased its stake in Clearwater Paper by 23.2% in the second quarter. American Century Companies Inc. now owns 495,358 shares of the basic materials company’s stock worth $24,010,000 after purchasing an additional 93,123 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Clearwater Paper by 24.3% in the second quarter. Assenagon Asset Management S.A. now owns 219,983 shares of the basic materials company’s stock worth $10,663,000 after purchasing an additional 42,935 shares during the period. 89.98% of the stock is currently owned by institutional investors.

Clearwater Paper Company Profile

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.