Clearwater Paper (NYSE:CLW) Lifted to Outperform at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Clearwater Paper (NYSE:CLW) from a sector perform rating to an outperform rating in a report released on Friday, MarketBeat.com reports. The brokerage currently has $37.00 price target on the basic materials company’s stock, down from their prior price target of $48.00.

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

Clearwater Paper Stock Performance

Clearwater Paper stock opened at $28.18 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.73 and a quick ratio of 0.74. Clearwater Paper has a 1-year low of $25.50 and a 1-year high of $57.13. The firm has a market capitalization of $469.99 million, a P/E ratio of 4.71 and a beta of 0.32. The company’s 50-day moving average is $29.97 and its 200 day moving average is $41.53.

Clearwater Paper (NYSE:CLW) last posted its quarterly earnings data on Tuesday, August 6th. The basic materials company reported ($0.42) earnings per share for the quarter. Clearwater Paper had a return on equity of 11.56% and a net margin of 2.16%. The firm had revenue of $586.40 million during the quarter.

Hedge Funds Weigh In On Clearwater Paper

Institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. boosted its stake in shares of Clearwater Paper by 26.2% during the second quarter. Pacer Advisors Inc. now owns 1,299,972 shares of the basic materials company’s stock valued at $63,010,000 after purchasing an additional 269,937 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Clearwater Paper by 780.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 109,134 shares of the basic materials company’s stock valued at $4,772,000 after purchasing an additional 96,740 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Clearwater Paper by 23.2% during the second quarter. American Century Companies Inc. now owns 495,358 shares of the basic materials company’s stock valued at $24,010,000 after purchasing an additional 93,123 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Clearwater Paper by 39.1% during the second quarter. Acadian Asset Management LLC now owns 218,505 shares of the basic materials company’s stock valued at $10,586,000 after purchasing an additional 61,366 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Clearwater Paper by 24.3% during the second quarter. Assenagon Asset Management S.A. now owns 219,983 shares of the basic materials company’s stock valued at $10,663,000 after purchasing an additional 42,935 shares in the last quarter. 89.98% of the stock is owned by hedge funds and other 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.