Clearwater Paper (NYSE:CLW) Initiates Stock Repurchase Program

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

Wall Street Analyst Weigh In

CLW has been the topic of a number of recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 target price on shares of Clearwater Paper in a report on Tuesday. StockNews.com lowered Clearwater Paper from a “hold” rating to a “sell” rating in a research note on Wednesday.

Clearwater Paper Stock Up 3.6 %

NYSE:CLW opened at $29.04 on Thursday. The stock’s fifty day moving average price is $28.54 and its two-hundred day moving average price is $40.29. Clearwater Paper has a 52-week low of $24.51 and a 52-week high of $57.13. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.74 and a current ratio of 1.73. The company has a market cap of $482.94 million, a price-to-earnings ratio of 33.77 and a beta of 0.34.

Clearwater Paper (NYSE:CLW) last posted its quarterly earnings results 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 0.74% and a return on equity of 4.34%.

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.