Clearwater Paper (NYSE:CLW) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Clearwater Paper (NYSE:CLW) from a hold rating to a sell rating in a report released on Wednesday morning.

Separately, Royal Bank of Canada restated an “outperform” rating and set a $37.00 price target on shares of Clearwater Paper in a report on Tuesday.

Clearwater Paper Stock Performance

Shares of NYSE CLW opened at $27.11 on Wednesday. The company has a current ratio of 1.78, a quick ratio of 0.74 and a debt-to-equity ratio of 1.72. The stock has a 50 day simple moving average of $28.31 and a 200-day simple moving average of $40.12. The company has a market cap of $449.21 million, a PE ratio of 31.52 and a beta of 0.34. Clearwater Paper has a 12-month low of $24.51 and a 12-month high of $57.13.

Clearwater Paper (NYSE:CLW) last released its earnings results on Tuesday, August 6th. The basic materials company reported ($0.42) earnings per share for the quarter. The firm had revenue of $586.40 million during the quarter. Clearwater Paper had a return on equity of 4.35% and a net margin of 0.74%.

Clearwater Paper announced that its board has authorized a share repurchase program on Monday, November 4th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the basic materials company to repurchase up to 23.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLW. Louisiana State Employees Retirement System raised its stake in shares of Clearwater Paper by 2.4% in the second quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the basic materials company’s stock valued at $407,000 after acquiring an additional 200 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Clearwater Paper by 30.3% in the second quarter. GAMMA Investing LLC now owns 1,096 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 255 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Clearwater Paper by 1.2% in the second quarter. SummerHaven Investment Management LLC now owns 23,515 shares of the basic materials company’s stock valued at $1,140,000 after acquiring an additional 287 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Clearwater Paper in the second quarter valued at approximately $52,000. Finally, Public Sector Pension Investment Board raised its stake in shares of Clearwater Paper by 6.9% in the second quarter. Public Sector Pension Investment Board now owns 36,736 shares of the basic materials company’s stock valued at $1,781,000 after acquiring an additional 2,360 shares during 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.