Clearwater Paper (NYSE:CLW) Receives Outperform Rating from Royal Bank of Canada

Clearwater Paper (NYSE:CLW)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a report released on Tuesday, Benzinga reports. They currently have a $37.00 target price on the basic materials company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 29.28% from the company’s previous close.

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

Clearwater Paper Stock Up 13.5 %

CLW stock traded up $3.40 on Tuesday, hitting $28.62. 439,103 shares of the company’s stock were exchanged, compared to its average volume of 239,752. The firm has a 50 day moving average price of $28.72 and a two-hundred day moving average price of $40.45. Clearwater Paper has a 12-month low of $24.51 and a 12-month high of $57.13. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.74 and a current ratio of 1.73. The stock has a market cap of $475.95 million, a P/E ratio of 10.76 and a beta of 0.34.

Clearwater Paper (NYSE:CLW) 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 company had revenue of $586.40 million during 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 authorized a share repurchase program on Monday, November 4th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the basic materials company to reacquire up to 23.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Clearwater Paper

A number of large investors have recently bought and sold shares of CLW. Pacer Advisors Inc. raised its holdings in Clearwater Paper by 26.2% in the 2nd 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. American Century Companies Inc. increased its stake in Clearwater Paper by 23.2% during the 2nd quarter. American Century Companies Inc. now owns 495,358 shares of the basic materials company’s stock worth $24,010,000 after buying an additional 93,123 shares in the last quarter. Acadian Asset Management LLC increased its stake in Clearwater Paper by 39.1% during the 2nd quarter. Acadian Asset Management LLC now owns 218,505 shares of the basic materials company’s stock worth $10,586,000 after buying an additional 61,366 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Clearwater Paper by 24.3% during the 2nd 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Clearwater Paper by 35.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 148,051 shares of the basic materials company’s stock valued at $7,176,000 after purchasing an additional 38,917 shares in the last quarter. Institutional investors and hedge funds own 89.98% of the company’s stock.

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.