Royal Bank of Canada Boosts Clearwater Paper (NYSE:CLW) Price Target to $48.00

Clearwater Paper (NYSE:CLW) had its price objective upped by Royal Bank of Canada from $42.00 to $48.00 in a research report released on Wednesday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the basic materials company’s stock.

Clearwater Paper Trading Down 7.4 %

Clearwater Paper stock traded down $2.61 during midday trading on Wednesday, hitting $32.60. 538,940 shares of the stock were exchanged, compared to its average volume of 162,714. The company has a fifty day simple moving average of $49.51 and a two-hundred day simple moving average of $44.27. Clearwater Paper has a 52 week low of $31.38 and a 52 week high of $57.13. The stock has a market capitalization of $543.77 million, a PE ratio of 5.45 and a beta of 0.40. The company has a quick ratio of 0.82, a current ratio of 1.91 and a debt-to-equity ratio of 0.65.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CLW. Wasatch Advisors LP bought a new position in Clearwater Paper during the 4th quarter worth approximately $9,909,000. Grizzlyrock Capital LLC bought a new position in Clearwater Paper in the fourth quarter valued at approximately $4,585,000. Allspring Global Investments Holdings LLC lifted its stake in Clearwater Paper by 780.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 109,134 shares of the basic materials company’s stock valued at $4,772,000 after buying an additional 96,740 shares in the last quarter. American Century Companies Inc. lifted 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 valued at $24,010,000 after buying an additional 93,123 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Clearwater Paper by 39.1% in the second quarter. Acadian Asset Management LLC now owns 218,505 shares of the basic materials company’s stock valued at $10,586,000 after buying an additional 61,366 shares in the last quarter. 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.