Clarivate Plc (NYSE:CLVT) Receives Average Rating of “Hold” from Analysts

Clarivate Plc (NYSE:CLVT) has been assigned an average recommendation of “Hold” from the nine brokerages that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $8.00.

A number of analysts have recently weighed in on CLVT shares. Oppenheimer reduced their price target on shares of Clarivate from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Barclays cut their target price on Clarivate from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Wednesday, February 28th. Morgan Stanley lowered their price target on Clarivate from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada cut their price objective on Clarivate from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th.

Clarivate Stock Up 1.8 %

CLVT opened at $6.91 on Thursday. The stock’s 50 day moving average price is $7.71 and its 200 day moving average price is $7.84. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $4.62 billion, a P/E ratio of -4.67, a P/E/G ratio of 1.41 and a beta of 1.24. Clarivate has a 12 month low of $6.07 and a 12 month high of $10.03.

Clarivate (NYSE:CLVT) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.21 EPS for the quarter, meeting analysts’ consensus estimates of $0.21. The company had revenue of $683.70 million for the quarter, compared to analyst estimates of $687.80 million. Clarivate had a positive return on equity of 9.95% and a negative net margin of 34.66%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company earned $0.20 earnings per share. As a group, research analysts predict that Clarivate will post 0.61 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CLVT. US Bancorp DE lifted its position in shares of Clarivate by 5.6% in the 1st quarter. US Bancorp DE now owns 14,343 shares of the company’s stock valued at $240,000 after acquiring an additional 765 shares in the last quarter. HighTower Advisors LLC raised its position in Clarivate by 19.1% during the first quarter. HighTower Advisors LLC now owns 98,518 shares of the company’s stock valued at $1,656,000 after buying an additional 15,785 shares during the period. Private Advisor Group LLC purchased a new stake in Clarivate in the 1st quarter worth about $191,000. AlphaCrest Capital Management LLC boosted its position in Clarivate by 47.7% during the 1st quarter. AlphaCrest Capital Management LLC now owns 25,536 shares of the company’s stock worth $428,000 after acquiring an additional 8,243 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Clarivate in the first quarter worth approximately $204,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.

About Clarivate

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.