Brokerages Set Clarivate Plc (NYSE:CLVT) PT at $8.00

Shares of Clarivate Plc (NYSE:CLVT) have been assigned an average rating of “Hold” from the nine brokerages that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $8.00.

CLVT has been the topic of several recent analyst reports. Oppenheimer reduced their price target on shares of Clarivate from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Barclays decreased their price target on shares of Clarivate from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Wednesday, February 28th. Morgan Stanley dropped their price objective on Clarivate from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada decreased their target price on Clarivate from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th.

Clarivate Stock Up 2.3 %

Shares of NYSE:CLVT opened at $7.15 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.91. The business has a 50 day simple moving average of $7.57 and a two-hundred day simple moving average of $7.86. Clarivate has a 1 year low of $6.07 and a 1 year high of $10.03. The firm has a market capitalization of $4.78 billion, a PE ratio of -4.83, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24.

Clarivate (NYSE:CLVT) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.21 EPS for the quarter, meeting the consensus estimate of $0.21. Clarivate had a positive return on equity of 9.95% and a negative net margin of 34.66%. The company had revenue of $683.70 million for the quarter, compared to the consensus estimate of $687.80 million. During the same quarter in the prior year, the company posted $0.20 EPS. Clarivate’s quarterly revenue was up 1.2% on a year-over-year basis. On average, equities analysts predict that Clarivate will post 0.61 EPS for the current year.

Institutional Trading of Clarivate

A number of institutional investors have recently modified their holdings of CLVT. Baupost Group LLC MA boosted its stake in Clarivate by 13.3% in the fourth quarter. Baupost Group LLC MA now owns 25,500,000 shares of the company’s stock valued at $236,130,000 after acquiring an additional 3,000,000 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Clarivate by 1,614.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,119,600 shares of the company’s stock worth $7,513,000 after purchasing an additional 1,054,300 shares in the last quarter. Public Sector Pension Investment Board purchased a new position in Clarivate during the 3rd quarter worth $6,710,000. Clarkston Capital Partners LLC increased its position in Clarivate by 12.0% during the 3rd quarter. Clarkston Capital Partners LLC now owns 57,567,115 shares of the company’s stock valued at $386,275,000 after buying an additional 6,172,694 shares in the last quarter. Finally, Boston Partners raised its stake in Clarivate by 109.6% in the third quarter. Boston Partners now owns 546,671 shares of the company’s stock valued at $3,668,000 after buying an additional 285,881 shares during the last quarter. 85.72% of the stock is currently owned by institutional investors.

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.