Clearwater Paper (NYSE:CLW) Upgraded at StockNews.com

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

Separately, Royal Bank of Canada restated an “outperform” rating and set a $37.00 price objective on shares of Clearwater Paper in a research note on Tuesday, November 5th.

Clearwater Paper Price Performance

Shares of NYSE CLW opened at $28.03 on Monday. Clearwater Paper has a fifty-two week low of $23.97 and a fifty-two week high of $57.13. The stock has a market cap of $464.37 million, a price-to-earnings ratio of 2.39 and a beta of 0.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.90 and a current ratio of 1.70. The firm’s 50-day simple moving average is $29.59 and its 200 day simple moving average is $29.36.

Clearwater Paper (NYSE:CLW) last posted its earnings results on Thursday, February 13th. The basic materials company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.84). Clearwater Paper had a net margin of 10.54% and a negative return on equity of 1.87%.

Clearwater Paper announced that its Board of Directors has approved a share buyback program on Monday, November 4th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the basic materials company to repurchase up to 23.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Clearwater Paper

Hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. raised its stake in shares of Clearwater Paper by 45.2% during the 3rd quarter. Pacer Advisors Inc. now owns 1,887,015 shares of the basic materials company’s stock worth $53,855,000 after purchasing an additional 587,043 shares during the period. Barclays PLC raised its position in Clearwater Paper by 339.6% in the third quarter. Barclays PLC now owns 27,139 shares of the basic materials company’s stock worth $774,000 after acquiring an additional 20,966 shares during the period. HighTower Advisors LLC raised its holdings in shares of Clearwater Paper by 124.0% in the 3rd quarter. HighTower Advisors LLC now owns 12,400 shares of the basic materials company’s stock worth $361,000 after purchasing an additional 6,865 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Clearwater Paper in the 3rd quarter worth approximately $877,000. Finally, Intech Investment Management LLC bought a new stake in shares of Clearwater Paper in the 3rd quarter worth approximately $1,043,000. 89.98% of the stock is currently owned by institutional investors.

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.