Clearwater Paper (NYSE:CLW) Rating Increased to Outperform at 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 research note issued to investors on Friday, MarketBeat reports. The brokerage presently has a $37.00 price objective on the basic materials company’s stock, down from their previous price objective of $48.00. Royal Bank of Canada’s target price would indicate a potential upside of 28.29% from the stock’s previous close.

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 Up 3.6 %

Shares of CLW opened at $28.84 on Friday. The stock has a market capitalization of $480.99 million, a P/E ratio of 4.82 and a beta of 0.32. The company has a quick ratio of 0.74, a current ratio of 1.73 and a debt-to-equity ratio of 1.73. The firm has a fifty day simple moving average of $29.97 and a two-hundred day simple moving average of $41.53. Clearwater Paper has a twelve month low of $25.50 and a twelve month high of $57.13.

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

Hedge Funds Weigh In On Clearwater Paper

Institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in Clearwater Paper by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,408,298 shares of the basic materials company’s stock valued at $68,261,000 after purchasing an additional 10,074 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Clearwater Paper by 26.2% during the second quarter. Pacer Advisors Inc. now owns 1,299,972 shares of the basic materials company’s stock valued at $63,010,000 after buying an additional 269,937 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Clearwater Paper by 1.4% during the first quarter. Vanguard Group Inc. now owns 1,218,874 shares of the basic materials company’s stock valued at $53,301,000 after buying an additional 17,166 shares during the last quarter. American Century Companies Inc. raised its position in shares of Clearwater Paper by 23.2% during the second quarter. American Century Companies Inc. now owns 495,358 shares of the basic materials company’s stock valued at $24,010,000 after buying an additional 93,123 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Clearwater Paper by 24.3% during the second quarter. Assenagon Asset Management S.A. now owns 219,983 shares of the basic materials company’s stock valued at $10,663,000 after buying an additional 42,935 shares during the last quarter. Hedge funds and other 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.