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

Shares of Clarivate Plc (NYSE:CLVT) have been assigned an average recommendation of “Hold” from the six research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $7.10.

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

Insider Activity

In other Clarivate news, Director Michael J. Angelakis bought 765,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were acquired at an average cost of $5.19 per share, with a total value of $3,970,350.00. Following the acquisition, 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 position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 22.77% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CLVT. GAMMA Investing LLC raised its holdings in shares of Clarivate by 161.4% in the fourth quarter. GAMMA Investing LLC now owns 5,256 shares of the company’s stock valued at $27,000 after buying an additional 3,245 shares during the last quarter. KBC Group NV raised its stake in Clarivate by 33.2% during the 3rd quarter. KBC Group NV now owns 10,225 shares of the company’s stock valued at $73,000 after acquiring an additional 2,549 shares during the last quarter. Truist Financial Corp acquired a new stake in Clarivate during the 2nd quarter worth approximately $63,000. Kathmere Capital Management LLC purchased a new position in shares of Clarivate in the 4th quarter valued at approximately $58,000. Finally, Pitcairn Co. purchased a new position in shares of Clarivate in the 3rd quarter valued at approximately $100,000. 85.72% of the stock is owned by hedge funds and other institutional investors.

Clarivate Stock Performance

Shares of Clarivate stock opened at $5.44 on Friday. The business has a 50-day simple moving average of $5.22 and a 200-day simple moving average of $5.97. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.88. Clarivate has a one year low of $4.25 and a one year high of $9.60. The company has a market cap of $3.86 billion, a PE ratio of -2.73 and a beta of 1.14.

Clarivate (NYSE:CLVT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.69%. The company had revenue of $622.20 million during the quarter, compared to analysts’ expectations of $640.81 million. During the same quarter in the previous year, the business posted $0.18 EPS. The firm’s revenue was down 3.9% on a year-over-year basis. On average, equities research analysts forecast that Clarivate will post 0.63 EPS for the current fiscal year.

Clarivate announced that its board has approved a share buyback program on Monday, December 16th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 12.8% of its stock through open market purchases. Stock buyback programs are usually 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.