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

Clarivate Plc (NYSE:CLVT - Get Free Report) has received a consensus recommendation of "Hold" from the six analysts that are 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 analysts that have covered the stock in the last year is $7.10.

CLVT has been the topic of several analyst reports. Royal Bank of Canada dropped their price target on shares of Clarivate from $7.00 to $6.00 and set a "sector perform" rating on the stock in a research note on Thursday, November 7th. Barclays dropped their price target 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, William Blair downgraded shares of Clarivate from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 6th.

Clarivate Stock Up 0.1 %

Shares of NYSE:CLVT traded up $0.01 during midday trading on Friday, hitting $5.10. 2,818,483 shares of the company's stock traded hands, compared to its average volume of 2,947,887. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $3.62 billion, a PE ratio of -2.56 and a beta of 1.14. The firm's fifty day moving average price is $5.19 and its two-hundred day moving average price is $5.98. Clarivate has a twelve month low of $4.25 and a twelve month high of $9.60.

Clarivate (NYSE:CLVT - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share (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 firm had revenue of $622.20 million for the quarter, compared to the consensus estimate of $640.81 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The firm's quarterly revenue was down 3.9% on a year-over-year basis. On average, equities research analysts anticipate that Clarivate will post 0.63 EPS for the current fiscal year.

Clarivate announced that its Board of Directors has authorized a share repurchase plan on Monday, December 16th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy up to 12.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Insider Activity at Clarivate

In other Clarivate news, Director Michael J. Angelakis acquired 765,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was acquired at an average price of $5.19 per share, with a total value of $3,970,350.00. Following the transaction, the director now directly owns 3,465,000 shares in the company, valued at approximately $17,983,350. This represents a 28.33 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 23.14% of the company's stock.

Institutional Investors Weigh In On Clarivate

A number of institutional investors have recently modified their holdings of CLVT. GAMMA Investing LLC boosted its stake in Clarivate by 161.4% during the 4th quarter. GAMMA Investing LLC now owns 5,256 shares of the company's stock valued at $27,000 after purchasing an additional 3,245 shares during the period. KBC Group NV boosted 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 purchasing an additional 2,549 shares during the period. Truist Financial Corp acquired a new position in Clarivate during the 2nd quarter valued at about $63,000. Kathmere Capital Management LLC acquired a new position in Clarivate during the 4th quarter valued at about $58,000. Finally, Pitcairn Co. acquired a new position in Clarivate during the 3rd quarter valued at about $100,000. Institutional investors own 85.72% of the company's stock.

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.