Clarivate Plc (NYSE:CLVT) Receives Average Recommendation of "Hold" from Analysts

Shares of Clarivate Plc (NYSE:CLVT - Get Free Report) have received a consensus recommendation of "Hold" from the six research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $7.10.

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

Clarivate Stock Performance

Shares of NYSE CLVT traded up $0.01 during mid-day trading on Thursday, hitting $4.85. The stock had a trading volume of 8,817,103 shares, compared to its average volume of 5,505,494. The company has a 50 day moving average of $5.12 and a two-hundred day moving average of $5.79. Clarivate has a twelve month low of $4.22 and a twelve month high of $9.07. 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 firm has a market cap of $3.44 billion, a PE ratio of -5.05 and a beta of 1.17.

Clarivate declared that its Board of Directors has authorized a stock buyback program on Monday, December 16th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 12.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CLVT. Price T Rowe Associates Inc. MD increased its holdings in shares of Clarivate by 53.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,776,892 shares of the company's stock worth $141,107,000 after buying an additional 9,691,104 shares during the last quarter. Norges Bank acquired a new stake in Clarivate during the fourth quarter worth $27,764,000. Clarkston Capital Partners LLC raised its position in Clarivate by 8.1% in the fourth quarter. Clarkston Capital Partners LLC now owns 70,733,831 shares of the company's stock valued at $359,328,000 after purchasing an additional 5,319,535 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Clarivate in the 4th quarter valued at $19,172,000. Finally, Atairos Partners GP Inc. purchased a new position in shares of Clarivate during the 4th quarter worth $17,602,000. Hedge funds and other 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.