Clearwater Paper (NYSE:CLW) Receives Outperform Rating from Royal Bank of Canada

Clearwater Paper (NYSE:CLW - Get Free Report)'s stock had its "outperform" rating restated by investment analysts at Royal Bank of Canada in a report issued on Tuesday, Benzinga reports. They presently have a $37.00 price objective on the basic materials company's stock. Royal Bank of Canada's target price would indicate a potential upside of 32.05% from the stock's previous close.

Separately, StockNews.com downgraded Clearwater Paper from a "buy" rating to a "hold" rating in a research note on Thursday, August 8th.

Clearwater Paper Stock Performance

NYSE CLW traded up $2.80 on Tuesday, hitting $28.02. 1,190,010 shares of the stock were exchanged, compared to its average volume of 243,261. The company has a market capitalization of $465.97 million, a PE ratio of 10.68 and a beta of 0.34. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.73 and a quick ratio of 0.74. The business's fifty day moving average is $28.72 and its 200 day moving average is $40.45. Clearwater Paper has a 52 week low of $24.51 and a 52 week high of $57.13.

Clearwater Paper (NYSE:CLW - Get Free Report) last issued its earnings results 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.

Clearwater Paper announced that its board has initiated a stock buyback plan on Monday, November 4th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the basic materials company to purchase up to 23.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. increased its holdings in Clearwater Paper by 26.2% in the 2nd quarter. Pacer Advisors Inc. now owns 1,299,972 shares of the basic materials company's stock worth $63,010,000 after purchasing an additional 269,937 shares in the last quarter. American Century Companies Inc. raised its holdings 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 purchasing an additional 93,123 shares during the period. Acadian Asset Management LLC boosted its position in shares of Clearwater Paper by 39.1% during the 2nd quarter. Acadian Asset Management LLC now owns 218,505 shares of the basic materials company's stock worth $10,586,000 after purchasing an additional 61,366 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Clearwater Paper by 24.3% in the 2nd 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 period. Finally, Allspring Global Investments Holdings LLC raised its stake in Clearwater Paper by 35.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 148,051 shares of the basic materials company's stock worth $7,176,000 after buying an additional 38,917 shares during the period. 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.