Clarivate (NYSE:CLVT – Get Rating) had its target price lowered by Morgan Stanley from $15.00 to $14.00 in a research report report published on Tuesday, Marketbeat reports. The firm currently has an overweight rating on the stock.
Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company initiated coverage on shares of Clarivate in a report on Tuesday, July 12th. They issued an overweight rating and a $20.00 price target for the company. Royal Bank of Canada cut their price target on shares of Clarivate from $23.00 to $18.00 and set an outperform rating for the company in a report on Friday, July 1st. Finally, TheStreet raised shares of Clarivate from a d+ rating to a c rating in a report on Tuesday, May 31st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $16.50.
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Clarivate Stock Performance
Shares of CLVT opened at $9.39 on Tuesday. The firm has a 50-day moving average price of $12.24 and a 200 day moving average price of $14.01. The firm has a market capitalization of $6.32 billion, a PE ratio of -46.95 and a beta of 0.89. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.56. Clarivate has a 52-week low of $9.06 and a 52-week high of $25.63.
Clarivate (NYSE:CLVT – Get Rating) last announced its earnings results on Tuesday, August 9th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.02. Clarivate had a net
margin of 1.87% and a return on equity of 5.47%. The firm had revenue of $686.60 million during the quarter, compared to analyst estimates of $691.51 million. On average, sell-side analysts anticipate that Clarivate will post 0.7 earnings per share for the current fiscal year.
Insider Buying and Selling at Clarivate
In related news, Director Andrew Miles Snyder purchased 208,333 shares of Clarivate stock in a transaction dated Wednesday, September 14th. The stock was acquired at an average cost of $11.61 per share, with a total value of $2,418,746.13. Following the completion of the transaction, the director now directly owns 208,333 shares of the company's stock, valued at $2,418,746.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 24.88% of the company's stock.
Institutional Trading of Clarivate
Hedge funds have recently made changes to their positions in the stock. Swiss National Bank increased its holdings in Clarivate by 13.9% in the first quarter. Swiss National Bank now owns 1,524,100 shares of the company's stock worth $25,544,000 after buying an additional 186,400 shares during the last quarter. Toronto Dominion Bank increased its holdings in Clarivate by 8.6% in the first quarter. Toronto Dominion Bank now owns 75,353 shares of the company's stock worth $1,263,000 after buying an additional 5,945 shares during the last quarter. Diversified Trust Co increased its holdings in Clarivate by 10.4% in the first quarter. Diversified Trust Co now owns 37,820 shares of the company's stock worth $634,000 after buying an additional 3,575 shares during the last quarter. TownSquare Capital LLC acquired a new position in Clarivate in the first quarter worth approximately $349,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in Clarivate in the first quarter worth approximately $154,000. 83.42% of the stock is owned by hedge funds and other institutional investors.
Clarivate Company Profile
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Clarivate Plc, an information services and analytics company, provides structured information and analytics for discovery, protection, and commercialization of scientific research, innovations, and brands. It offers Web of Science products and services, such as Web of Science, InCites, Journal Citation Reports, EndNote, ScholarOne, Converis, Publons, and Kopernio to organizations that plan, fund, implement, and utilize research; and Life Sciences products, including Cortellis and Newport Integrity for pharmaceutical and biotechnology companies to support research, market intelligence, and competitive monitoring in connection with the development and commercialization of new drugs.
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