Clearwater Paper (NYSE:CLW) Downgraded to “Sell” Rating by StockNews.com

Clearwater Paper (NYSE:CLW) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Separately, Royal Bank of Canada reissued an “outperform” rating and issued a $37.00 target price on shares of Clearwater Paper in a report on Tuesday.

Clearwater Paper Trading Up 3.6 %

NYSE:CLW traded up $1.02 during trading hours on Wednesday, reaching $29.04. 670,577 shares of the stock were exchanged, compared to its average volume of 245,253. The company has a quick ratio of 0.74, a current ratio of 1.73 and a debt-to-equity ratio of 1.73. The business has a 50-day moving average of $28.62 and a two-hundred day moving average of $40.37. Clearwater Paper has a twelve month low of $24.51 and a twelve month high of $57.13. The company has a market capitalization of $482.94 million, a price-to-earnings ratio of 33.77 and a beta of 0.34.

Clearwater Paper (NYSE:CLW) last released its quarterly earnings results on Tuesday, August 6th. The basic materials company reported ($0.42) EPS for the quarter. Clearwater Paper had a return on equity of 4.34% and a net margin of 0.74%. The firm had revenue of $586.40 million for the quarter.

Clearwater Paper declared that its board has approved a stock repurchase plan 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 buy up to 23.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Clearwater Paper

Hedge funds have recently made changes to their positions in the company. Innealta Capital LLC purchased a new position in shares of Clearwater Paper during the second quarter worth about $52,000. GAMMA Investing LLC grew its holdings in shares of Clearwater Paper by 30.3% during the second quarter. GAMMA Investing LLC now owns 1,096 shares of the basic materials company’s stock worth $53,000 after buying an additional 255 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Clearwater Paper during the third quarter worth about $74,000. SG Americas Securities LLC purchased a new position in shares of Clearwater Paper during the first quarter worth about $132,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Clearwater Paper during the second quarter worth about $153,000. Hedge funds and other 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.