Clarivate Plc (NYSE:CLVT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Clarivate Plc (NYSE:CLVT) have earned a consensus recommendation of “Hold” from the eight research firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $7.75.

Several analysts recently weighed in on the company. Barclays decreased their price target on Clarivate from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada decreased their price target on Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th.

Insider Buying and Selling at Clarivate

In other news, Director Saurabh Saha sold 17,646 shares of the stock in a transaction 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 transaction, the director now owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Andrew Miles Snyder purchased 28,938 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were 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 of the company’s stock, valued at $1,582,953.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Saurabh Saha sold 17,646 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $6.75, for a total value of $119,110.50. Following the transaction, the director now directly 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 currently owned by corporate insiders.

Institutional Investors Weigh In On Clarivate

Institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC bought a new stake in Clarivate during the second quarter valued at about $26,000. Evermay Wealth Management LLC bought a new stake in Clarivate during the first quarter valued at about $31,000. Truist Financial Corp bought a new stake in Clarivate during the second quarter valued at about $63,000. Forum Financial Management LP purchased a new stake in Clarivate in the second quarter valued at about $75,000. Finally, J.W. Cole Advisors Inc. purchased a new stake in Clarivate in the first quarter valued at about $76,000. Institutional investors own 85.72% of the company’s stock.

Clarivate Stock Up 4.1 %

Shares of CLVT opened at $6.57 on Friday. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of -3.96, a price-to-earnings-growth ratio of 3.24 and a beta of 1.17. Clarivate has a 1 year low of $4.97 and a 1 year high of $9.60. The business’s 50 day simple moving average is $6.35 and its 200-day simple moving average is $6.46. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90.

Clarivate (NYSE:CLVT) last issued its quarterly earnings data 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. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. The business had revenue of $650.30 million for the quarter, compared to analysts’ expectations of $651.94 million. During the same period in the prior year, the firm earned $0.16 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities analysts expect that Clarivate will post 0.64 earnings per share for the current fiscal year.

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.