Clearwater Paper (NYSE:CLW) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Clearwater Paper (NYSE:CLW - Free Report) from a sell rating to a hold rating in a report issued on Monday.

Separately, Royal Bank of Canada restated an "outperform" rating and set a $37.00 price objective on shares of Clearwater Paper in a research report on Tuesday, November 5th.

Clearwater Paper Price Performance

Clearwater Paper stock traded down $1.51 during midday trading on Monday, reaching $27.34. 353,779 shares of the stock traded hands, compared to its average volume of 317,413. Clearwater Paper has a 12 month low of $23.97 and a 12 month high of $57.13. The company has a quick ratio of 0.90, a current ratio of 1.70 and a debt-to-equity ratio of 0.33. The stock's fifty day moving average is $29.66 and its 200-day moving average is $29.36. The stock has a market cap of $452.96 million, a P/E ratio of 2.33 and a beta of 0.35.

Clearwater Paper (NYSE:CLW - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The basic materials company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.84). Clearwater Paper had a net margin of 10.54% and a negative return on equity of 1.87%.

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Clearwater Paper announced that its Board of Directors has authorized a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On Clearwater Paper

Several hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC raised its holdings in shares of Clearwater Paper by 2.9% in the fourth quarter. Barclays PLC now owns 27,920 shares of the basic materials company's stock worth $830,000 after buying an additional 781 shares during the period. D.A. Davidson & CO. increased its holdings in Clearwater Paper by 10.1% during the 4th quarter. D.A. Davidson & CO. now owns 8,700 shares of the basic materials company's stock worth $259,000 after purchasing an additional 800 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Clearwater Paper by 2.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,038 shares of the basic materials company's stock worth $1,341,000 after purchasing an additional 877 shares during the period. Turtle Creek Asset Management Inc. increased its holdings in Clearwater Paper by 12.2% during the 4th quarter. Turtle Creek Asset Management Inc. now owns 9,200 shares of the basic materials company's stock worth $274,000 after purchasing an additional 1,000 shares during the period. Finally, PEAK6 Investments LLC increased its holdings in Clearwater Paper by 15.5% during the 3rd quarter. PEAK6 Investments LLC now owns 9,127 shares of the basic materials company's stock worth $260,000 after purchasing an additional 1,227 shares during the period. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

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.