Clearwater Paper (CLW) Upgraded at Zacks Investment Research

Clearwater Paper (NYSE:CLW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $32.00 target price on the basic materials company’s stock. Zacks Investment Research‘s target price points to a potential upside of 4.07% from the company’s current price.

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. “

A number of other research firms also recently commented on CLW. ValuEngine upgraded shares of Clearwater Paper from a “sell” rating to a “hold” rating in a report on Tuesday, November 20th. Royal Bank of Canada dropped their target price on shares of Clearwater Paper from $32.00 to $31.00 and set a “sector perform” rating on the stock in a report on Friday, November 9th.

CLW stock opened at $30.75 on Wednesday. Clearwater Paper has a 52 week low of $21.55 and a 52 week high of $50.60. The stock has a market cap of $445.08 million, a price-to-earnings ratio of 13.25, a P/E/G ratio of 3.95 and a beta of 1.48. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 1.10.

Clearwater Paper (NYSE:CLW) last released its quarterly earnings results on Thursday, November 8th. The basic materials company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.85. Clearwater Paper had a net margin of 7.21% and a return on equity of 8.27%. The company had revenue of $426.46 million for the quarter, compared to the consensus estimate of $434.38 million. During the same period in the previous year, the firm earned $0.32 EPS. On average, research analysts expect that Clearwater Paper will post 2.52 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLW. Legal & General Group Plc increased its position in shares of Clearwater Paper by 2.0% in the third quarter. Legal & General Group Plc now owns 39,774 shares of the basic materials company’s stock worth $1,181,000 after acquiring an additional 781 shares in the last quarter. IndexIQ Advisors LLC increased its position in shares of Clearwater Paper by 3.9% in the third quarter. IndexIQ Advisors LLC now owns 58,139 shares of the basic materials company’s stock worth $1,727,000 after acquiring an additional 2,196 shares in the last quarter. First Sabrepoint Capital Management LP purchased a new position in shares of Clearwater Paper in the third quarter worth approximately $13,286,000. MetLife Investment Advisors LLC increased its position in shares of Clearwater Paper by 58.2% in the third quarter. MetLife Investment Advisors LLC now owns 12,394 shares of the basic materials company’s stock worth $368,000 after acquiring an additional 4,558 shares in the last quarter. Finally, Man Group plc purchased a new position in shares of Clearwater Paper in the third quarter worth approximately $255,000. Institutional investors and hedge funds own 87.09% of the company’s stock.

Clearwater Paper Company Profile

Clearwater Paper Corporation produces and sells produces and sells private label tissue and bleached paperboard products in the United States and internationally. It operates in two segments, Consumer Products, and Pulp and Paperboard. The Consumer Products segment manufactures and sells a line of at-home tissue products, including bathroom tissues, paper towels, facial tissues, and napkins; recycled fiber value grade products; and away-from-home products, such as conventional one- and two-ply bath tissues, two-ply paper towels, hard wound towels, and dispenser napkins.

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