Analysts Set Clarivate Plc (NYSE:CLVT) Price Target at $7.10

Shares of Clarivate Plc (NYSE:CLVT) have received a consensus rating of “Hold” from the six ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $7.10.

A number of research firms have recently commented on CLVT. William Blair cut shares of Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. Royal Bank of Canada cut their price objective on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Finally, Barclays lowered their target price on Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, November 7th.

Insider Activity

In related news, insider Bar Veinstein sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total transaction of $420,000.00. Following the sale, the insider now directly owns 916,583 shares of the company’s stock, valued at approximately $6,416,081. This represents a 6.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Angelakis acquired 765,000 shares of Clarivate stock in a transaction that occurred on Friday, November 22nd. The shares were purchased at an average price of $5.19 per share, for a total transaction of $3,970,350.00. Following the completion of the purchase, the director now directly owns 3,465,000 shares of the company’s stock, valued at $17,983,350. The trade was a 28.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 23.14% of the company’s stock.

Institutional Trading of Clarivate

Several hedge funds have recently made changes to their positions in CLVT. Nisa Investment Advisors LLC bought a new stake in Clarivate in the 2nd quarter valued at about $26,000. Truist Financial Corp acquired a new position in shares of Clarivate during the second quarter worth approximately $63,000. KBC Group NV grew its holdings in Clarivate by 33.2% in the 3rd quarter. KBC Group NV now owns 10,225 shares of the company’s stock worth $73,000 after buying an additional 2,549 shares in the last quarter. Forum Financial Management LP acquired a new stake in Clarivate in the 2nd quarter valued at approximately $75,000. Finally, Headlands Technologies LLC raised its stake in Clarivate by 749.2% during the 2nd quarter. Headlands Technologies LLC now owns 14,632 shares of the company’s stock valued at $83,000 after acquiring an additional 12,909 shares in the last quarter. Institutional investors own 85.72% of the company’s stock.

Clarivate Stock Up 2.0 %

Shares of Clarivate stock opened at $5.09 on Tuesday. The company has a fifty day moving average price of $5.54 and a 200 day moving average price of $6.03. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.84. Clarivate has a twelve month low of $4.25 and a twelve month high of $9.60. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of -2.56 and a beta of 1.12.

Clarivate (NYSE:CLVT) last posted its earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. The business had revenue of $622.20 million during the quarter, compared to analyst estimates of $640.81 million. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 earnings per share. Equities research analysts forecast that Clarivate will post 0.63 earnings per share for the current fiscal year.

Clarivate announced that its board has authorized a stock buyback program on Monday, December 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 12.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.