Royal Bank of Canada Reiterates “Outperform” Rating for Clearwater Paper (NYSE:CLW)

Royal Bank of Canada reaffirmed their outperform rating on shares of Clearwater Paper (NYSE:CLW) in a research note issued to investors on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has a $37.00 target price on the basic materials company’s stock.

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

Clearwater Paper Trading Down 3.9 %

NYSE:CLW opened at $27.11 on Tuesday. The company has a 50-day moving average price of $28.31 and a 200-day moving average price of $40.12. Clearwater Paper has a 12 month low of $24.51 and a 12 month high of $57.13. The company has a current ratio of 1.78, a quick ratio of 0.74 and a debt-to-equity ratio of 1.72. The stock has a market cap of $449.21 million, a price-to-earnings ratio of 31.52 and a beta of 0.34.

Clearwater Paper (NYSE:CLW) last issued its quarterly earnings results on Tuesday, August 6th. The basic materials company reported ($0.42) earnings per share (EPS) for the quarter. The business had revenue of $586.40 million during the quarter. Clearwater Paper had a return on equity of 4.35% and a net margin of 0.74%.

Clearwater Paper announced that its board has authorized a share 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 purchase up to 23.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Clearwater Paper

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC bought a new stake in shares of Clearwater Paper in the third quarter worth approximately $1,043,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Clearwater Paper by 16.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 35,762 shares of the basic materials company’s stock worth $1,021,000 after acquiring an additional 4,994 shares during the period. Empowered Funds LLC grew its stake in shares of Clearwater Paper by 5.3% in the third quarter. Empowered Funds LLC now owns 106,519 shares of the basic materials company’s stock worth $3,040,000 after acquiring an additional 5,360 shares during the period. Royce & Associates LP grew its stake in shares of Clearwater Paper by 158.2% in the third quarter. Royce & Associates LP now owns 25,340 shares of the basic materials company’s stock worth $723,000 after acquiring an additional 15,525 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Clearwater Paper by 63.9% in the third quarter. Victory Capital Management Inc. now owns 50,240 shares of the basic materials company’s stock worth $1,434,000 after acquiring an additional 19,580 shares during the period. 89.98% of the stock is currently owned by institutional investors.

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.