Clarivate Plc (NYSE:CLVT – Get Rating) has been given a consensus recommendation of “Buy” by the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $22.00.
CLVT has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Clarivate from a “buy” rating to a “hold” rating in a research note on Wednesday, March 16th. Barclays downgraded shares of Clarivate from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $25.00 to $16.00 in a research note on Thursday, February 3rd. The Goldman Sachs Group reduced their price objective on shares of Clarivate from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday. Citigroup downgraded shares of Clarivate from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $35.00 to $16.00 in a research note on Friday, February 4th. Finally, Morgan Stanley cut their target price on shares of Clarivate from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, March 11th.
In other Clarivate news, insider James Gordon Samson sold 16,000 shares of the stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $14.13, for a total value of $226,080.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 21.95% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. National Bank of Canada FI bought a new position in Clarivate in the 4th quarter valued at about $30,157,000. Janney Montgomery Scott LLC increased its holdings in shares of Clarivate by 10.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 107,061 shares of the company’s stock worth $2,518,000 after purchasing an additional 10,334 shares during the period. New York State Common Retirement Fund bought a new position in shares of Clarivate during the third quarter worth approximately $55,288,000. Brown Advisory Inc. bought a new position in shares of Clarivate during the fourth quarter worth approximately $475,000. Finally, Royal Bank of Canada increased its holdings in shares of Clarivate by 23.1% during the third quarter. Royal Bank of Canada now owns 605,933 shares of the company’s stock worth $13,270,000 after purchasing an additional 113,894 shares during the period. 83.32% of the stock is currently owned by hedge funds and other institutional investors.
CLVT stock opened at $15.79 on Friday. The stock has a 50-day moving average price of $15.70 and a two-hundred day moving average price of $19.50. The stock has a market cap of $10.79 billion, a PE ratio of -42.68 and a beta of 0.84. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.52. Clarivate has a 1 year low of $11.71 and a 1 year high of $34.79.
Clarivate (NYSE:CLVT – Get Rating) last released its earnings results on Thursday, March 10th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.19. Clarivate had a positive return on equity of 4.62% and a negative net margin of 10.35%. The firm had revenue of $560.70 million during the quarter, compared to analysts’ expectations of $559.48 million. During the same quarter in the prior year, the company earned $0.21 EPS. The company’s revenue was up 23.1% on a year-over-year basis. On average, analysts forecast that Clarivate will post 0.71 earnings per share for the current fiscal year.
Clarivate Company Profile (Get Rating)
Clarivate Plc, an information services and analytics company, provides structured information and analytics for discovery, protection, and commercialization of scientific research, innovations, and brands. It offers Web of Science products and services, such as Web of Science, InCites, Journal Citation Reports, EndNote, ScholarOne, Converis, Publons, and Kopernio to organizations that plan, fund, implement, and utilize research; and Life Sciences products, including Cortellis and Newport Integrity for pharmaceutical and biotechnology companies to support research, market intelligence, and competitive monitoring in connection with the development and commercialization of new drugs.
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