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

Clearwater Paper (NYSE:CLW)‘s stock had its “outperform” rating restated by equities research analysts at Royal Bank of Canada in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $37.00 price objective on the basic materials company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 29.28% from the stock’s current price.

Separately, StockNews.com lowered Clearwater Paper from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th.

Clearwater Paper Trading Up 13.5 %

Clearwater Paper stock traded up $3.40 during mid-day trading on Tuesday, hitting $28.62. The company’s stock had a trading volume of 439,103 shares, compared to its average volume of 239,752. The firm has a market capitalization of $475.95 million, a PE ratio of 10.76 and a beta of 0.34. Clearwater Paper has a 1 year low of $24.51 and a 1 year high of $57.13. The company has a current ratio of 1.73, a quick ratio of 0.74 and a debt-to-equity ratio of 1.73. The stock’s fifty day moving average is $28.72 and its two-hundred day moving average is $40.45.

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

Clearwater Paper declared that its board has approved a share repurchase program on Monday, November 4th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the basic materials company to purchase up to 23.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CLW. BNP Paribas Financial Markets lifted its stake in Clearwater Paper by 141.7% during the first quarter. BNP Paribas Financial Markets now owns 47,056 shares of the basic materials company’s stock worth $2,058,000 after purchasing an additional 27,585 shares in the last quarter. Quantbot Technologies LP lifted its stake in Clearwater Paper by 153.4% during the first quarter. Quantbot Technologies LP now owns 15,561 shares of the basic materials company’s stock worth $680,000 after purchasing an additional 9,419 shares in the last quarter. Empowered Funds LLC lifted its stake in Clearwater Paper by 8.0% during the first quarter. Empowered Funds LLC now owns 93,959 shares of the basic materials company’s stock worth $4,109,000 after purchasing an additional 7,000 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Clearwater Paper in the first quarter valued at $132,000. Finally, BOS Asset Management LLC acquired a new stake in shares of Clearwater Paper in the first quarter valued at $285,000. 89.98% of the stock is currently 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.