Clearwater Paper (NYSE:CLW) Upgraded by StockNews.com to Hold Rating

Clearwater Paper (NYSE:CLW) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $37.00 price target on shares of Clearwater Paper in a report on Tuesday, November 5th.

Clearwater Paper Price Performance

NYSE CLW traded down $2.28 during trading hours on Monday, hitting $26.80. The company had a trading volume of 876,873 shares, compared to its average volume of 258,884. The firm has a 50 day simple moving average of $29.52 and a 200 day simple moving average of $29.54. Clearwater Paper has a 52 week low of $23.97 and a 52 week high of $57.13. The firm has a market capitalization of $444.09 million, a price-to-earnings ratio of 31.17 and a beta of 0.35. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.13 and a current ratio of 1.78.

Clearwater Paper (NYSE:CLW) last released its quarterly earnings data on Thursday, February 13th. The basic materials company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.84). Clearwater Paper had a net margin of 0.74% and a return on equity of 4.35%.

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

Institutional Investors Weigh In On Clearwater Paper

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC purchased a new stake in Clearwater Paper in the third quarter worth approximately $74,000. Paloma Partners Management Co bought a new stake in shares of Clearwater Paper in the 3rd quarter worth approximately $209,000. Virtu Financial LLC purchased a new stake in shares of Clearwater Paper in the 4th quarter valued at $217,000. D.A. Davidson & CO. grew its stake in shares of Clearwater Paper by 23.4% during the third quarter. D.A. Davidson & CO. now owns 7,900 shares of the basic materials company’s stock valued at $225,000 after buying an additional 1,500 shares during the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of Clearwater Paper in the fourth quarter worth about $226,000. 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.