Stock Buyback Program Approved by Clearwater Paper (NYSE:CLW)

Clearwater Paper (NYSE:CLWGet Free Report) announced that its Board of Directors has approved 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 allows the basic materials company to reacquire up to 23.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Clearwater Paper Stock Performance

NYSE CLW opened at $28.03 on Wednesday. Clearwater Paper has a 1 year low of $24.51 and a 1 year high of $57.13. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.73 and a quick ratio of 0.74. The stock has a market capitalization of $466.14 million, a PE ratio of 10.46 and a beta of 0.34. The company’s 50 day simple moving average is $28.72 and its two-hundred day simple moving average is $40.45.

Clearwater Paper (NYSE:CLWGet Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The basic materials company reported ($0.42) earnings per share for the quarter. Clearwater Paper had a net margin of 2.16% and a return on equity of 11.56%. The company had revenue of $586.40 million during the quarter.

Wall Street Analysts Forecast Growth

CLW has been the subject of a number of recent research reports. StockNews.com lowered shares of Clearwater Paper from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $37.00 price target on shares of Clearwater Paper in a report on Tuesday.

Read Our Latest Report on Clearwater Paper

Clearwater Paper Company Profile

(Get Free Report)

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.

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