Clearwater Paper (NYSE:CLW) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Clearwater Paper Corporation (NYSE:CLW) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.10 and traded as high as $17.64. Clearwater Paper shares last traded at $16.75, with a volume of 262,811 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CLW shares. TD Securities lowered shares of Clearwater Paper from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. Truist Financial reiterated a “hold” rating and set a $12.00 target price (down from $15.00) on shares of Clearwater Paper in a research note on Wednesday, April 29th. Wall Street Zen lowered Clearwater Paper from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. TD downgraded Clearwater Paper from a “buy” rating to a “hold” rating and lowered their price target for the company from $19.00 to $17.00 in a report on Wednesday, April 29th. Finally, Royal Bank Of Canada dropped their price objective on Clearwater Paper from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.00.

Clearwater Paper Stock Down 0.1%

The company has a quick ratio of 1.26, a current ratio of 2.61 and a debt-to-equity ratio of 0.44. The company has a market cap of $270.49 million, a PE ratio of -10.90 and a beta of 0.27. The company’s fifty day moving average is $15.01 and its 200-day moving average is $16.09.

Clearwater Paper (NYSE:CLW) last announced its earnings results on Tuesday, April 28th. The basic materials company reported ($1.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.32) by $0.03. The business had revenue of $360.30 million during the quarter, compared to analyst estimates of $363.55 million. Clearwater Paper had a negative net margin of 1.63% and a negative return on equity of 3.94%.

Institutional Investors Weigh In On Clearwater Paper

A number of large investors have recently made changes to their positions in the company. Readystate Asset Management LP increased its position in shares of Clearwater Paper by 2.5% during the 1st quarter. Readystate Asset Management LP now owns 781,384 shares of the basic materials company’s stock valued at $11,236,000 after purchasing an additional 19,246 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Clearwater Paper by 33.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 557,953 shares of the basic materials company’s stock valued at $9,708,000 after buying an additional 139,013 shares during the last quarter. Towle & Co. increased its holdings in Clearwater Paper by 12.4% during the third quarter. Towle & Co. now owns 366,798 shares of the basic materials company’s stock valued at $7,615,000 after buying an additional 40,575 shares during the last quarter. Millennium Management LLC raised its position in Clearwater Paper by 158.1% in the fourth quarter. Millennium Management LLC now owns 360,795 shares of the basic materials company’s stock worth $6,278,000 after acquiring an additional 221,029 shares during the period. Finally, Invenomic Capital Management LP raised its position in Clearwater Paper by 113.0% in the fourth quarter. Invenomic Capital Management LP now owns 320,212 shares of the basic materials company’s stock worth $5,572,000 after acquiring an additional 169,880 shares during the period. 89.98% of the stock is currently owned by institutional investors.

About Clearwater Paper

Clearwater Paper Corporation is an independent manufacturer of premium tissue and pulp and paperboard products for private-label and commercial customers in North America. The company operates through two core segments: Consumer Products, which produces bathroom tissue, paper towels and other away-from-home tissue products under private-label contracts; and Pulp & Paperboard, which supplies bleached paperboard used in folding cartons, foodservice packaging and specialty paper applications.

The Consumer Products segment services retail grocers, warehouse clubs, online merchants and janitorial distributors, leveraging multiple converting facilities to produce roll and folded tissue items for both household and institutional use.