Clarivate (NYSE:CLVT – Get Rating) had its price target cut by investment analysts at Royal Bank of Canada from $16.00 to $13.00 in a note issued to investors on Wednesday, The Fly reports. Royal Bank of Canada's price target would indicate a potential upside of 41.46% from the company's previous close.
CLVT has been the topic of several other research reports. Morgan Stanley dropped their target price on Clarivate from $15.00 to $14.00 and set an "overweight" rating on the stock in a research report on Tuesday. Wells Fargo & Company assumed coverage on Clarivate in a report on Tuesday, July 12th. They issued an "overweight" rating and a $20.00 price target on the stock. Finally, TheStreet raised shares of Clarivate from a "d+" rating to a "c" rating in a report on Tuesday, May 31st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Clarivate presently has an average rating of "Moderate Buy" and an average target price of $16.50.
Get Clarivate alerts:Clarivate Price Performance
Shares of NYSE CLVT opened at $9.19 on Wednesday. The company has a market capitalization of $6.18 billion, a PE ratio of -45.95 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. The stock's 50 day moving average price is $12.34 and its 200-day moving average price is $14.04. Clarivate has a twelve month low of $9.18 and a twelve month high of $25.63.
Clarivate (NYSE:CLVT – Get Rating) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $686.60 million during the quarter, compared to analyst estimates of $691.51 million. Clarivate had a net margin of 1.87% and a return on equity of 5.47%. On average, equities analysts anticipate that Clarivate will post 0.7 EPS for the current year.Insider Transactions at Clarivate
In other Clarivate news, Director Andrew Miles Snyder purchased 208,333 shares of the stock in a transaction dated Wednesday, September 14th. The shares were purchased at an average cost of $11.61 per share, with a total value of $2,418,746.13. Following the completion of the acquisition, the director now directly owns 208,333 shares in the company, valued at approximately $2,418,746.13. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 24.88% of the stock is owned by insiders.
Hedge Funds Weigh In On Clarivate
A number of institutional investors have recently bought and sold shares of CLVT. Swiss National Bank grew its holdings in Clarivate by 13.9% during the 1st quarter. Swiss National Bank now owns 1,524,100 shares of the company's stock valued at $25,544,000 after buying an additional 186,400 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Clarivate by 8.6% during the first quarter. Toronto Dominion Bank now owns 75,353 shares of the company's stock valued at $1,263,000 after buying an additional 5,945 shares during the period. Diversified Trust Co boosted its holdings in Clarivate by 10.4% during the 1st quarter. Diversified Trust Co now owns 37,820 shares of the company's stock valued at $634,000 after acquiring an additional 3,575 shares during the period. TownSquare Capital LLC bought a new position in shares of Clarivate in the first quarter worth about $349,000. Finally, Robeco Institutional Asset Management B.V. bought a new position in Clarivate in the 1st quarter worth about $154,000. 83.42% of the stock is owned by 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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