Clearwater Paper (NYSE:CLW) Trading Up 6.6% – Time to Buy?

Clearwater Paper Co. (NYSE:CLW)’s share price was up 6.6% during trading on Tuesday . The company traded as high as $32.30 and last traded at $32.30. Approximately 195,683 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 270,452 shares. The stock had previously closed at $30.29.

Wall Street Analysts Forecast Growth

CLW has been the subject of a number of analyst reports. StockNews.com downgraded Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. 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, November 5th.

Clearwater Paper Stock Performance

The company has a quick ratio of 1.13, a current ratio of 1.78 and a debt-to-equity ratio of 1.72. The business has a 50 day moving average price of $26.98 and a 200 day moving average price of $35.02. The stock has a market cap of $541.11 million, a P/E ratio of 37.98 and a beta of 0.33.

Clearwater Paper declared that its Board of Directors has approved a share buyback program on Monday, November 4th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to repurchase up to 23.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Clearwater Paper

A number of large investors have recently modified their holdings of CLW. Innealta Capital LLC bought a new stake in Clearwater Paper during the 2nd quarter valued at $52,000. nVerses Capital LLC bought a new stake in shares of Clearwater Paper in the third quarter valued at about $74,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Clearwater Paper in the second quarter valued at about $153,000. Caxton Associates LP purchased a new stake in Clearwater Paper in the second quarter worth about $200,000. Finally, Paloma Partners Management Co bought a new position in Clearwater Paper during the 3rd quarter worth about $209,000. 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.