Clearwater Paper (NYSE:CLW) Authorizes Share Buyback Plan

Clearwater Paper (NYSE:CLW) announced that its Board of Directors has initiated a stock buyback plan on Monday, November 4th, RTT News reports. The company plans to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the basic materials company to reacquire up to 23.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Clearwater Paper Stock Down 2.6 %

Shares of NYSE:CLW traded down $0.66 during midday trading on Monday, reaching $25.22. The company had a trading volume of 855,163 shares, compared to its average volume of 238,807. 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’s 50 day moving average price is $28.88 and its 200 day moving average price is $40.55. Clearwater Paper has a 1-year low of $24.51 and a 1-year high of $57.13. The stock has a market cap of $419.46 million, a PE ratio of 9.42 and a beta of 0.34.

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 company had revenue of $586.40 million during the quarter. Clearwater Paper had a net margin of 2.16% and a return on equity of 11.56%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CLW. StockNews.com downgraded Clearwater Paper from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Royal Bank of Canada raised shares of Clearwater Paper from a “sector perform” rating to an “outperform” rating and decreased their price target for the company from $48.00 to $37.00 in a report on Friday, October 18th.

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.