Zacks Investment Research Downgrades Clearwater Paper Corporation (NYSE:CLW) to Hold

Zacks Investment Research cut shares of Clearwater Paper Corporation (NYSE:CLW) from a buy rating to a hold rating in a research note released on Tuesday, August 8th.

According to Zacks, “Clearwater Paper,a standalone company,produces pulp and paperboard at six facilities across the country namely Lewiston, Idaho; Las Vegas, Nev.; Elwood, Ill.; and near McGehee, Ark. The company manufactures quality paperboard, consumer tissue, and wood products.It has direct access to the public capital markets .The company is a premier supplier of private label tissue to major retail grocery chains, and also produces bleached paperboard used by quality-conscious printers and packaging converters. “

Other equities research analysts have also issued reports about the company. BidaskClub lowered Clearwater Paper Corporation from a hold rating to a sell rating in a report on Saturday, July 8th. Royal Bank Of Canada cut their price target on Clearwater Paper Corporation from $63.00 to $60.00 and set a sector perform rating for the company in a report on Friday, August 4th. Finally, Vertical Research upgraded Clearwater Paper Corporation from a hold rating to a buy rating in a report on Monday, April 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $60.50.

Clearwater Paper Corporation (CLW) traded down 0.22% during mid-day trading on Tuesday, hitting $45.15. 73,484 shares of the stock were exchanged. The firm has a market cap of $741.95 million, a price-to-earnings ratio of 29.11 and a beta of 1.07. Clearwater Paper Corporation has a 52-week low of $43.60 and a 52-week high of $68.40. The company has a 50 day moving average price of $47.05 and a 200 day moving average price of $50.85.

Clearwater Paper Corporation (NYSE:CLW) last announced its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.08. The business had revenue of $429.70 million during the quarter, compared to analyst estimates of $439.33 million. Clearwater Paper Corporation had a return on equity of 7.74% and a net margin of 1.49%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.37 EPS. On average, analysts anticipate that Clearwater Paper Corporation will post $2.64 EPS for the current year.

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In other news, insider Michael S. Gadd sold 877 shares of the company’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $50.01, for a total transaction of $43,858.77. Following the transaction, the insider now owns 19,010 shares of the company’s stock, valued at $950,690.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael S. Gadd sold 1,546 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $50.04, for a total value of $77,361.84. Following the transaction, the insider now directly owns 17,464 shares in the company, valued at approximately $873,898.56. The disclosure for this sale can be found here. 2.41% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its position in Clearwater Paper Corporation by 17.2% in the second quarter. Public Employees Retirement System of Ohio now owns 2,861 shares of the basic materials company’s stock valued at $134,000 after buying an additional 420 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in Clearwater Paper Corporation by 92.4% in the second quarter. Cubist Systematic Strategies LLC now owns 5,836 shares of the basic materials company’s stock valued at $273,000 after buying an additional 2,803 shares during the last quarter. State Street Corp increased its stake in shares of Clearwater Paper Corporation by 3.0% in the second quarter. State Street Corp now owns 426,527 shares of the basic materials company’s stock valued at $19,939,000 after buying an additional 12,257 shares during the period. Capital World Investors acquired a new stake in shares of Clearwater Paper Corporation during the second quarter valued at about $18,233,000. Finally, Employees Retirement System of Texas increased its stake in shares of Clearwater Paper Corporation by 38.7% in the second quarter. Employees Retirement System of Texas now owns 43,000 shares of the basic materials company’s stock valued at $2,010,000 after buying an additional 12,000 shares during the period. 85.09% of the stock is currently owned by hedge funds and other institutional investors.

Clearwater Paper Corporation Company Profile

Clearwater Paper Corporation manufactures consumer tissue, away-from-home (AFH) tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The Company operates through two segments: Consumer Products segment, and Pulp and Paperboard segment. The Company’s Consumer Products segment manufactures and sells a line of at-home tissue products, as well as AFH products.

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