Clarivate Plc (NYSE:CLVT) Receives $7.75 Average Target Price from Brokerages

Shares of Clarivate Plc (NYSE:CLVT) have been given a consensus recommendation of “Hold” by the eight ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $7.75.

CLVT has been the subject of several recent analyst reports. Barclays lowered their price target on Clarivate from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada lowered their price target on Clarivate from $8.00 to $7.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th.

Clarivate Stock Performance

Shares of CLVT stock opened at $6.64 on Friday. Clarivate has a 12 month low of $4.97 and a 12 month high of $9.60. The stock has a market cap of $4.44 billion, a PE ratio of -4.00, a price-to-earnings-growth ratio of 3.24 and a beta of 1.17. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.83. The company’s fifty day moving average price is $6.39 and its 200-day moving average price is $6.45.

Clarivate (NYSE:CLVT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. The firm had revenue of $650.30 million during the quarter, compared to analyst estimates of $651.94 million. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. Clarivate’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 EPS. On average, equities analysts expect that Clarivate will post 0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Clarivate news, Director Andrew Miles Snyder bought 28,938 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average price of $5.49 per share, with a total value of $158,869.62. Following the transaction, the director now owns 288,334 shares in the company, valued at $1,582,953.66. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Clarivate news, Director Andrew Miles Snyder acquired 28,938 shares of the stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $5.49 per share, for a total transaction of $158,869.62. Following the purchase, the director now directly owns 288,334 shares of the company’s stock, valued at $1,582,953.66. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Saurabh Saha sold 17,646 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $6.75, for a total transaction of $119,110.50. Following the completion of the transaction, the director now owns 23,741 shares in the company, valued at approximately $160,251.75. The disclosure for this sale can be found here. 22.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Clarivate

Institutional investors have recently made changes to their positions in the business. Evermay Wealth Management LLC bought a new position in shares of Clarivate in the 1st quarter worth approximately $31,000. Nisa Investment Advisors LLC bought a new position in shares of Clarivate in the 2nd quarter worth approximately $26,000. J.W. Cole Advisors Inc. bought a new position in shares of Clarivate in the 1st quarter worth approximately $76,000. Truist Financial Corp purchased a new stake in Clarivate in the 2nd quarter worth approximately $63,000. Finally, Forum Financial Management LP purchased a new stake in Clarivate in the 2nd quarter worth approximately $75,000. Institutional investors own 85.72% of the company’s stock.

Clarivate Company Profile

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.