Clearwater Paper (NYSE:CLW) Shares Gap Down – Should You Sell?

Clearwater Paper Co. (NYSE:CLW) 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 changing hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on CLW. Royal Bank of Canada reissued an “outperform” rating and set a $37.00 price objective on shares of Clearwater Paper in a research note on Tuesday, November 5th. StockNews.com cut Clearwater Paper from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th.

Clearwater Paper Stock Down 5.0 %

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 cap of $503.17 million, a price-to-earnings ratio of 35.31 and a beta of 0.33. The business’s 50 day moving average is $27.10 and its 200 day moving average is $34.86.

Clearwater Paper declared that its Board of Directors has authorized a share 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 stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Clearwater Paper

Institutional investors have recently bought and sold shares of the business. Louisiana State Employees Retirement System boosted its stake in shares of Clearwater Paper by 2.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the basic materials company’s stock valued at $407,000 after buying an additional 200 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Clearwater Paper by 2.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,161 shares of the basic materials company’s stock worth $1,260,000 after purchasing an additional 1,117 shares during the last quarter. PEAK6 Investments LLC raised its stake in shares of Clearwater Paper by 15.5% during the 3rd quarter. PEAK6 Investments LLC now owns 9,127 shares of the basic materials company’s stock worth $260,000 after purchasing an additional 1,227 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Clearwater Paper by 23.4% during the 3rd quarter. D.A. Davidson & CO. now owns 7,900 shares of the basic materials company’s stock valued at $225,000 after buying an additional 1,500 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in Clearwater Paper by 6.9% in the second quarter. Public Sector Pension Investment Board now owns 36,736 shares of the basic materials company’s stock worth $1,781,000 after buying an additional 2,360 shares during the last quarter. 89.98% of the stock is currently owned by institutional investors and hedge funds.

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.