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

Shares of Clarivate Plc (NYSE:CLVT - Get Free Report) have been given an average rating of "Hold" by the six ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $7.10.

Several research firms have recently commented on CLVT. Royal Bank of Canada decreased their price objective on Clarivate from $7.00 to $6.00 and set a "sector perform" rating for the company in a report on Thursday, November 7th. William Blair lowered shares of Clarivate from an "outperform" rating to a "market perform" rating in a research note on Wednesday, November 6th. Finally, 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 report on Thursday, November 7th.

Clarivate Trading Up 0.2 %

Shares of CLVT traded up $0.01 during trading hours on Tuesday, hitting $4.99. 840,582 shares of the stock were exchanged, compared to its average volume of 4,579,564. Clarivate has a fifty-two week low of $4.25 and a fifty-two week high of $9.60. The business has a 50-day moving average of $5.64 and a 200-day moving average of $6.05. The firm has a market capitalization of $3.54 billion, a P/E ratio of -2.51 and a beta of 1.12. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.88 and a quick ratio of 0.88.

Clarivate (NYSE:CLVT - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.19. The company had revenue of $622.20 million for the quarter, compared to the consensus estimate of $640.81 million. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The firm's revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS. On average, research analysts expect that Clarivate will post 0.63 EPS for the current year.

Clarivate announced that its Board of Directors has initiated a stock buyback program on Monday, December 16th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes 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 management believes its stock is undervalued.

Insider Activity at Clarivate

In other Clarivate news, Director Michael J. Angelakis acquired 1,500,000 shares of Clarivate stock in a transaction on Wednesday, November 20th. The stock was purchased at an average price of $5.11 per share, for a total transaction of $7,665,000.00. Following the purchase, the director now directly owns 1,500,000 shares of the company's stock, valued at $7,665,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bar Veinstein sold 60,000 shares of the business's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total transaction of $420,000.00. Following the completion of the transaction, the insider now directly owns 916,583 shares in the company, valued at $6,416,081. This trade represents a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC purchased a new position in Clarivate during the second quarter worth about $26,000. Truist Financial Corp purchased a new stake in Clarivate in the second quarter valued at approximately $63,000. KBC Group NV lifted its position in Clarivate by 33.2% during the third 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. Forum Financial Management LP purchased a new position in Clarivate in the 2nd quarter worth approximately $75,000. Finally, Headlands Technologies LLC increased its holdings in shares of Clarivate by 749.2% in the 2nd quarter. Headlands Technologies LLC now owns 14,632 shares of the company's stock worth $83,000 after buying an additional 12,909 shares during the last quarter. Institutional investors own 85.72% of the company's stock.

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.