Clearwater Paper (NYSE:CLW) Upgraded to Outperform by Royal Bank of Canada

Clearwater Paper (NYSE:CLW) was upgraded by stock analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report issued on Friday, MarketBeat reports. The firm presently has a $37.00 price objective on the basic materials company’s stock, down from their prior price objective of $48.00. Royal Bank of Canada’s price objective points to a potential upside of 33.00% from the company’s current price.

Separately, StockNews.com lowered shares of Clearwater Paper from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th.

Clearwater Paper Trading Down 0.6 %

Shares of CLW opened at $27.82 on Friday. The company has a current ratio of 1.73, a quick ratio of 0.74 and a debt-to-equity ratio of 1.73. Clearwater Paper has a 12-month low of $25.50 and a 12-month high of $57.13. The firm has a 50-day moving average price of $30.04 and a 200 day moving average price of $41.65. The firm has a market capitalization of $463.98 million, a P/E ratio of 4.65 and a beta of 0.32.

Clearwater Paper (NYSE:CLW) last announced its quarterly earnings data on Tuesday, August 6th. The basic materials company reported ($0.42) earnings per share (EPS) for the quarter. Clearwater Paper had a net margin of 2.16% and a return on equity of 11.56%. The firm had revenue of $586.40 million during the quarter.

Institutional Trading of Clearwater Paper

Several hedge funds have recently made changes to their positions in the business. Louisiana State Employees Retirement System lifted its position in shares of Clearwater Paper by 2.4% during the second quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the basic materials company’s stock worth $407,000 after purchasing an additional 200 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Clearwater Paper by 30.3% during the second quarter. GAMMA Investing LLC now owns 1,096 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 255 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in shares of Clearwater Paper by 1.2% during the second quarter. SummerHaven Investment Management LLC now owns 23,515 shares of the basic materials company’s stock worth $1,140,000 after purchasing an additional 287 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Clearwater Paper during the second quarter worth about $52,000. Finally, Public Sector Pension Investment Board lifted its position in shares of Clearwater Paper by 6.9% during the second quarter. Public Sector Pension Investment Board now owns 36,736 shares of the basic materials company’s stock worth $1,781,000 after purchasing an additional 2,360 shares in the last quarter. Institutional investors and hedge funds 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.