Clearwater Paper (NYSE:CLW) Shares Gap Down – Time to Sell?

Clearwater Paper Co. (NYSE:CLW)’s share price gapped down prior to trading on Friday . The stock had previously closed at $31.96, but opened at $31.20. Clearwater Paper shares last traded at $30.51, with a volume of 70,999 shares.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CLW shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $37.00 price objective on shares of Clearwater Paper in a research report on Tuesday, November 5th. StockNews.com downgraded Clearwater Paper from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th.

Clearwater Paper Price Performance

The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.13 and a current ratio of 1.78. The stock has a market capitalization of $503.17 million, a price-to-earnings ratio of 35.31 and a beta of 0.33. The business’s 50 day simple moving average is $27.10 and its 200-day simple moving average is $34.86.

Clearwater Paper announced that its Board of Directors has authorized a stock repurchase plan on Monday, November 4th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the basic materials company to buy up to 23.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Clearwater Paper

Several institutional investors have recently bought and sold shares of CLW. nVerses Capital LLC acquired a new stake in Clearwater Paper in the third quarter worth approximately $74,000. DekaBank Deutsche Girozentrale bought a new position in Clearwater Paper during the second quarter valued at about $153,000. Caxton Associates LP acquired a new position in Clearwater Paper during the second quarter worth about $200,000. Paloma Partners Management Co bought a new stake in Clearwater Paper in the third quarter worth about $209,000. Finally, Arizona State Retirement System bought a new position in shares of Clearwater Paper during the 2nd quarter valued at about $225,000. Institutional investors and hedge funds 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.