Clearwater Paper (NYSE:CLW) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Clearwater Paper (NYSE:CLW) from a sell rating to a hold rating in a research report released on Monday.

Separately, Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 price target on shares of Clearwater Paper in a research report on Tuesday, November 5th.

Clearwater Paper Stock Performance

NYSE CLW opened at $28.03 on Monday. The company’s 50 day moving average is $29.59 and its 200-day moving average is $29.36. Clearwater Paper has a 12-month low of $23.97 and a 12-month high of $57.13. The company has a quick ratio of 0.90, a current ratio of 1.70 and a debt-to-equity ratio of 0.33. The firm has a market cap of $464.37 million, a P/E ratio of 2.39 and a beta of 0.35.

Clearwater Paper (NYSE:CLW) last issued its earnings results on Thursday, February 13th. The basic materials company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.84). Clearwater Paper had a net margin of 10.54% and a negative return on equity of 1.87%.

Clearwater Paper announced that its board has authorized a share buyback program on Monday, November 4th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the basic materials company to reacquire up to 23.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Clearwater Paper

Institutional investors and hedge funds have recently made changes to their positions in the business. nVerses Capital LLC bought a new position in Clearwater Paper in the 3rd quarter worth about $74,000. Paloma Partners Management Co purchased a new stake in Clearwater Paper in the third quarter valued at approximately $209,000. Virtu Financial LLC bought a new stake in Clearwater Paper during the fourth quarter valued at approximately $217,000. D.A. Davidson & CO. grew its stake in Clearwater Paper by 23.4% in the 3rd quarter. D.A. Davidson & CO. now owns 7,900 shares of the basic materials company’s stock worth $225,000 after buying an additional 1,500 shares in the last quarter. Finally, Cornerstone Investment Partners LLC bought a new position in shares of Clearwater Paper in the 4th quarter worth $226,000. Hedge funds and other institutional investors own 89.98% of the company’s stock.

About Clearwater Paper

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.