Clearwater Paper (NYSE:CLW) Downgraded to “Underperform” at Royal Bank of Canada

Clearwater Paper (NYSE:CLW) was downgraded by equities researchers at Royal Bank of Canada from a “sector perform” rating to an “underperform” rating in a research report issued to clients and investors on Thursday, MarketBeat reports. They currently have a $15.00 price objective on the basic materials company’s stock, down from their prior price objective of $20.00. Royal Bank of Canada’s price target would indicate a potential downside of 24.40% from the stock’s current price.

CLW has been the topic of a number of other reports. Zacks Investment Research lowered shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Monday, July 1st. KeyCorp restated a “hold” rating on shares of Clearwater Paper in a research report on Wednesday, May 1st. Finally, ValuEngine upgraded shares of Clearwater Paper from a “sell” rating to a “hold” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Clearwater Paper has an average rating of “Hold” and a consensus price target of $30.33.

Shares of CLW opened at $19.84 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.39 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $324.19 million, a price-to-earnings ratio of 7.78 and a beta of 1.91. The business’s 50 day simple moving average is $18.52. Clearwater Paper has a 12-month low of $15.25 and a 12-month high of $35.27.

Clearwater Paper (NYSE:CLW) last announced its earnings results on Wednesday, July 31st. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.16). The business had revenue of $451.99 million for the quarter, compared to analysts’ expectations of $448.35 million. Clearwater Paper had a positive return on equity of 6.61% and a negative net margin of 8.64%. As a group, analysts expect that Clearwater Paper will post -0.3 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. Macquarie Group Ltd. grew its position in Clearwater Paper by 1.2% in the 4th quarter. Macquarie Group Ltd. now owns 25,700 shares of the basic materials company’s stock valued at $626,000 after buying an additional 300 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Clearwater Paper by 8.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 4,440 shares of the basic materials company’s stock valued at $108,000 after buying an additional 337 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in Clearwater Paper by 4.3% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 15,100 shares of the basic materials company’s stock valued at $279,000 after buying an additional 617 shares during the last quarter. Principal Financial Group Inc. grew its position in Clearwater Paper by 0.5% in the 4th quarter. Principal Financial Group Inc. now owns 133,640 shares of the basic materials company’s stock valued at $3,257,000 after buying an additional 728 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its position in Clearwater Paper by 12.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 12,892 shares of the basic materials company’s stock valued at $314,000 after buying an additional 1,395 shares during the last quarter. Hedge funds and other institutional investors own 82.75% 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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