Clearwater Paper (NYSE:CLW) Given New $42.00 Price Target at Royal Bank of Canada

Clearwater Paper (NYSE:CLW) had its price target increased by stock analysts at Royal Bank of Canada from $41.00 to $42.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective would indicate a potential downside of 5.58% from the company’s previous close.

Separately, StockNews.com cut shares of Clearwater Paper from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 22nd.

Clearwater Paper Stock Down 1.2 %

Shares of NYSE CLW opened at $44.48 on Tuesday. The firm’s 50 day moving average price is $40.66 and its 200 day moving average price is $37.11. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.97. The firm has a market cap of $736.59 million, a P/E ratio of 7.44 and a beta of 0.52. Clearwater Paper has a 1 year low of $29.22 and a 1 year high of $47.98.

Clearwater Paper (NYSE:CLW) last announced its quarterly earnings data on Monday, April 29th. The basic materials company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.32. Clearwater Paper had a return on equity of 17.63% and a net margin of 4.92%. The business had revenue of $496.20 million during the quarter. During the same period in the prior year, the firm earned $1.47 EPS.

Institutional Investors Weigh In On Clearwater Paper

Several institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its holdings in Clearwater Paper by 141.7% in the 1st quarter. BNP Paribas Financial Markets now owns 47,056 shares of the basic materials company’s stock worth $2,058,000 after acquiring an additional 27,585 shares during the period. Assenagon Asset Management S.A. increased its holdings in Clearwater Paper by 31.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 177,048 shares of the basic materials company’s stock worth $7,742,000 after purchasing an additional 42,365 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Clearwater Paper by 780.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 109,134 shares of the basic materials company’s stock valued at $4,772,000 after acquiring an additional 96,740 shares during the last quarter. Diversified Trust Co bought a new position in Clearwater Paper during the 1st quarter worth approximately $213,000. Finally, Grizzlyrock Capital LLC acquired a new position in shares of Clearwater Paper in the 4th quarter worth approximately $4,585,000. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

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.