Clarivate Plc (NYSE:CLVT) Receives $7.10 Consensus Target Price from Brokerages

Clarivate Plc (NYSE:CLVT) has earned an average rating of “Hold” from the six brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $7.10.

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

Hedge Funds Weigh In On Clarivate

A number of institutional investors have recently modified their holdings of CLVT. KBC Group NV grew its holdings in shares of 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 purchasing an additional 2,549 shares during the last quarter. Xponance Inc. boosted its position in Clarivate by 17.3% in the fourth quarter. Xponance Inc. now owns 18,222 shares of the company’s stock valued at $93,000 after buying an additional 2,689 shares in the last quarter. Integrated Investment Consultants LLC grew its stake in shares of Clarivate by 2.9% during the third quarter. Integrated Investment Consultants LLC now owns 96,656 shares of the company’s stock worth $686,000 after buying an additional 2,696 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in shares of Clarivate by 2.3% during the third quarter. OneDigital Investment Advisors LLC now owns 126,773 shares of the company’s stock worth $900,000 after buying an additional 2,865 shares in the last quarter. Finally, Truist Financial Corp lifted its stake in shares of Clarivate by 27.3% in the 4th quarter. Truist Financial Corp now owns 14,000 shares of the company’s stock valued at $71,000 after acquiring an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 85.72% of the company’s stock.

Clarivate Stock Up 0.1 %

Shares of CLVT stock opened at $4.85 on Thursday. The firm’s fifty day moving average price is $5.12 and its two-hundred day moving average price is $5.80. The company has a current ratio of 0.87, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. Clarivate has a 1 year low of $4.22 and a 1 year high of $9.07. The firm has a market capitalization of $3.35 billion, a P/E ratio of -5.05 and a beta of 1.17.

Clarivate declared that its Board of Directors has initiated a share repurchase plan on Monday, December 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 12.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is 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.