Clearwater Paper (NYSE:CLW) Lowered to Sell Rating by StockNews.com

StockNews.com lowered shares of Clearwater Paper (NYSE:CLW) from a hold rating to a sell rating in a report released on Wednesday morning.

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

Clearwater Paper Stock Performance

Shares of NYSE CLW traded up $0.02 during trading on Wednesday, hitting $29.06. The company had a trading volume of 18,166 shares, compared to its average volume of 244,146. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.74 and a current ratio of 1.73. Clearwater Paper has a 12 month low of $24.51 and a 12 month high of $57.13. The stock has a 50 day simple moving average of $28.54 and a 200 day simple moving average of $40.29. The firm has a market capitalization of $483.27 million, a P/E ratio of 33.77 and a beta of 0.34.

Clearwater Paper (NYSE:CLW) last released its earnings results on Tuesday, August 6th. The basic materials company reported ($0.42) earnings per share (EPS) for the quarter. Clearwater Paper had a return on equity of 4.34% and a net margin of 0.74%. The business had revenue of $586.40 million for the quarter.

Clearwater Paper declared that its board has authorized a stock 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 buy up to 23.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Clearwater Paper

Institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in Clearwater Paper during the 2nd quarter valued at approximately $52,000. GAMMA Investing LLC grew its holdings in Clearwater Paper by 30.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,096 shares of the basic materials company’s stock valued at $53,000 after buying an additional 255 shares in the last quarter. nVerses Capital LLC purchased a new position in Clearwater Paper during the 3rd quarter valued at approximately $74,000. SG Americas Securities LLC purchased a new position in Clearwater Paper during the 1st quarter valued at approximately $132,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Clearwater Paper during the 2nd quarter valued at approximately $153,000. 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.