Clearwater Paper (NYSE:CLW) Earns “Outperform” Rating from Royal Bank of Canada

by · The Markets Daily

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

Separately, StockNews.com cut Clearwater Paper from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th.

Get Our Latest Research Report on CLW

Clearwater Paper Stock Down 1.1 %

NYSE:CLW traded down $0.30 during mid-day trading on Tuesday, reaching $27.92. The company’s stock had a trading volume of 13,286 shares, compared to its average volume of 245,254. 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 stock has a fifty day moving average of $28.43 and a 200-day moving average of $40.21. Clearwater Paper has a 1 year low of $24.51 and a 1 year high of $57.13. The firm has a market capitalization of $462.58 million, a PE ratio of 32.81 and a beta of 0.34.

Clearwater Paper (NYSE:CLW – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The basic materials company reported ($0.42) earnings per share (EPS) for the quarter. The firm had revenue of $586.40 million during the quarter. Clearwater Paper had a return on equity of 4.34% and a net margin of 0.74%.

Clearwater Paper announced that its Board of Directors has authorized a share repurchase plan on Monday, November 4th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to purchase up to 23.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Clearwater Paper

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in shares of 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 valued at $68,261,000 after purchasing an additional 10,074 shares during the period. Pacer Advisors Inc. lifted its stake in Clearwater Paper by 26.2% during the 2nd quarter. Pacer Advisors Inc. now owns 1,299,972 shares of the basic materials company’s stock valued at $63,010,000 after acquiring an additional 269,937 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Clearwater Paper by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 1,218,874 shares of the basic materials company’s stock valued at $53,301,000 after acquiring an additional 17,166 shares during the last quarter. American Century Companies Inc. boosted its holdings 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 valued at $24,010,000 after purchasing an additional 93,123 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of 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 buying an additional 42,935 shares during the last quarter. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Clearwater Paper Company Profile

(Get Free Report)

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.

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