Clearwater Paper (NYSE:CLW) Given “Outperform” Rating 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 target suggests a potential upside of 32.02% from the stock’s current price.

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

Clearwater Paper Stock Up 0.4 %

Clearwater Paper stock opened at $28.03 on Tuesday. The firm has a market cap of $464.37 million, a price-to-earnings ratio of 2.39 and a beta of 0.35. Clearwater Paper has a 52 week low of $23.97 and a 52 week high of $57.13. The business’s 50-day moving average price is $29.59 and its 200 day moving average price is $29.36. The company has a quick ratio of 0.90, a current ratio of 1.70 and a debt-to-equity ratio of 0.33.

Clearwater Paper (NYSE:CLW) last posted its earnings results on Thursday, February 13th. The basic materials company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.84). Clearwater Paper had a negative return on equity of 1.87% and a net margin of 10.54%.

Clearwater Paper announced that its Board of Directors has approved a stock repurchase plan on Monday, November 4th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 23.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Clearwater Paper

Several institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. grew its holdings in Clearwater Paper by 45.2% in the third quarter. Pacer Advisors Inc. now owns 1,887,015 shares of the basic materials company’s stock valued at $53,855,000 after purchasing an additional 587,043 shares during the period. American Century Companies Inc. grew its holdings in Clearwater Paper by 7.3% in the fourth quarter. American Century Companies Inc. now owns 637,108 shares of the basic materials company’s stock valued at $18,967,000 after purchasing an additional 43,604 shares during the period. Millennium Management LLC grew its holdings in Clearwater Paper by 1,102.7% in the fourth quarter. Millennium Management LLC now owns 429,264 shares of the basic materials company’s stock valued at $12,779,000 after purchasing an additional 393,572 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in Clearwater Paper by 101.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 388,339 shares of the basic materials company’s stock valued at $11,561,000 after purchasing an additional 195,487 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Clearwater Paper by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 386,976 shares of the basic materials company’s stock valued at $11,523,000 after purchasing an additional 4,973 shares during the period. 89.98% of the stock is owned by institutional investors and hedge funds.

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.