Clearwater Paper (NYSE:CLW) Earns “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Clearwater Paper (NYSE:CLW) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $37.00 target price on the basic materials company’s stock.

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

Clearwater Paper Price Performance

CLW stock opened at $28.86 on Tuesday. Clearwater Paper has a one year low of $23.97 and a one year high of $57.13. The company’s fifty day moving average price is $29.66 and its 200-day moving average price is $29.36. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.90 and a current ratio of 1.70. The company has a market capitalization of $478.19 million, a PE ratio of 2.46 and a beta of 0.35.

Clearwater Paper (NYSE:CLW) last released 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 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 reacquire up to 23.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Clearwater Paper

Several large investors have recently bought and sold shares of CLW. Pacer Advisors Inc. increased its position 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 worth $53,855,000 after purchasing an additional 587,043 shares during the last quarter. Millennium Management LLC increased its position 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 worth $12,779,000 after purchasing an additional 393,572 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position 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 worth $11,561,000 after purchasing an additional 195,487 shares during the last quarter. Marshall Wace LLP bought a new stake in Clearwater Paper in the fourth quarter worth $5,418,000. Finally, Cramer Rosenthal Mcglynn LLC increased its position in Clearwater Paper by 322.8% during the fourth quarter. Cramer Rosenthal Mcglynn LLC now owns 218,279 shares of the basic materials company’s stock valued at $6,498,000 after acquiring an additional 166,653 shares during the last quarter. Institutional investors own 89.98% of the company’s stock.

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.