Clearwater Paper’s (CLW) Outperform Rating Reaffirmed at Royal Bank of Canada

Clearwater Paper (NYSE:CLW)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They currently have a $37.00 price target on the basic materials company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 31.65% from the stock’s previous close.

Separately, StockNews.com upgraded Clearwater Paper from a “sell” rating to a “hold” rating in a report on Monday.

Clearwater Paper Trading Up 5.5 %

CLW traded up $1.46 during trading on Tuesday, reaching $28.11. The company had a trading volume of 332,718 shares, compared to its average volume of 317,483. The firm’s 50-day simple moving average is $29.52 and its 200 day simple moving average is $29.54. The company has a market cap of $465.70 million, a price-to-earnings ratio of 32.68 and a beta of 0.35. Clearwater Paper has a 12-month low of $23.97 and a 12-month high of $57.13. 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 announced its quarterly earnings results on Thursday, February 13th. The basic materials company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate 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 announced that its board has authorized a stock buyback program on Monday, November 4th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the basic materials company to purchase up to 23.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Clearwater Paper

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLW. Pacer Advisors Inc. lifted its holdings in shares of Clearwater Paper by 45.2% during the third quarter. Pacer Advisors Inc. now owns 1,887,015 shares of the basic materials company’s stock worth $53,855,000 after buying an additional 587,043 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Clearwater Paper by 1,102.7% during the fourth quarter. Millennium Management LLC now owns 429,264 shares of the basic materials company’s stock worth $12,779,000 after buying an additional 393,572 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Clearwater Paper by 101.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 388,339 shares of the basic materials company’s stock worth $11,561,000 after buying an additional 195,487 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Clearwater Paper during the fourth quarter worth approximately $5,418,000. Finally, Cramer Rosenthal Mcglynn LLC lifted its holdings in shares of Clearwater Paper by 322.8% during the fourth quarter. Cramer Rosenthal Mcglynn LLC now owns 218,279 shares of the basic materials company’s stock worth $6,498,000 after buying an additional 166,653 shares during the last quarter. 89.98% of the stock is currently owned by institutional investors and hedge funds.

About Clearwater Paper

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.