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

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

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

Clearwater Paper Trading Down 7.8 %

Shares of NYSE CLW traded down $2.28 during midday trading on Monday, hitting $26.80. 876,873 shares of the company traded hands, compared to its average volume of 258,884. Clearwater Paper has a 12-month low of $23.97 and a 12-month high of $57.13. The firm has a market cap of $444.09 million, a P/E ratio of 31.17 and a beta of 0.35. The stock has a 50-day moving average price of $29.52 and a 200 day moving average price of $29.54. 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 issued its quarterly earnings results on Thursday, February 13th. The basic materials company reported ($1.17) earnings per share (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 has initiated a stock repurchase plan on Monday, November 4th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 23.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Clearwater Paper

A number of institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC raised its holdings in shares of Clearwater Paper by 2.9% during the fourth quarter. Barclays PLC now owns 27,920 shares of the basic materials company’s stock valued at $830,000 after purchasing an additional 781 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of Clearwater Paper by 10.1% in the fourth quarter. D.A. Davidson & CO. now owns 8,700 shares of the basic materials company’s stock worth $259,000 after buying an additional 800 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Clearwater Paper by 2.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,038 shares of the basic materials company’s stock worth $1,341,000 after acquiring an additional 877 shares during the period. Turtle Creek Asset Management Inc. raised its position in shares of Clearwater Paper by 12.2% during the 4th quarter. Turtle Creek Asset Management Inc. now owns 9,200 shares of the basic materials company’s stock valued at $274,000 after purchasing an additional 1,000 shares during the period. Finally, PEAK6 Investments LLC lifted its stake in shares of Clearwater Paper by 15.5% during the 3rd quarter. PEAK6 Investments LLC now owns 9,127 shares of the basic materials company’s stock valued at $260,000 after buying an additional 1,227 shares in the last quarter. Institutional investors own 89.98% of the company’s stock.

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.