Clearwater Paper’s (CLW) Outperform Rating Reaffirmed at Royal Bank of Canada

Clearwater Paper (NYSE:CLW)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank of Canada in a research note issued to 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 target would suggest a potential upside of 31.65% from the company’s current price.

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

Clearwater Paper Stock Performance

Shares of CLW traded up $1.46 on Tuesday, reaching $28.11. 332,718 shares of the stock traded hands, compared to its average volume of 317,483. The firm has a market cap of $465.70 million, a price-to-earnings ratio of 32.68 and a beta of 0.35. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.78 and a quick ratio of 1.13. Clearwater Paper has a 12 month low of $23.97 and a 12 month high of $57.13. The stock’s 50-day moving average price is $29.52 and its 200-day moving average price is $29.54.

Clearwater Paper (NYSE:CLW) last released 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 0.74% and a return on equity of 4.35%.

Clearwater Paper announced that its Board of Directors has authorized a share repurchase plan on Monday, November 4th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to repurchase up to 23.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Clearwater Paper

Large investors have recently bought and sold shares of the stock. nVerses Capital LLC bought a new stake in Clearwater Paper in the third quarter valued at $74,000. Virtu Financial LLC bought a new stake in Clearwater Paper in the fourth quarter valued at $217,000. Paloma Partners Management Co bought a new stake in Clearwater Paper in the third quarter valued at $209,000. Cornerstone Investment Partners LLC bought a new stake in Clearwater Paper in the fourth quarter valued at $226,000. Finally, D.A. Davidson & CO. grew its holdings in shares of Clearwater Paper by 23.4% during the third quarter. D.A. Davidson & CO. now owns 7,900 shares of the basic materials company’s stock worth $225,000 after purchasing an additional 1,500 shares during the last quarter. 89.98% of the stock is currently owned by 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.