Clarivate PLC (NYSE:CLVT) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Clarivate PLC (NYSE:CLVT) have received an average recommendation of “Reduce” from the seven analysts that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $3.30.

A number of analysts have weighed in on CLVT shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a research report on Monday, December 29th. The Goldman Sachs Group downgraded Clarivate from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $4.20 to $3.60 in a research note on Thursday, January 8th. Barclays lowered their target price on Clarivate from $4.00 to $2.40 and set an “underweight” rating for the company in a report on Wednesday, February 25th. Royal Bank Of Canada cut their price target on Clarivate from $5.00 to $3.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 25th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $3.00 price objective (down from $5.00) on shares of Clarivate in a research note on Wednesday, December 17th.

Hedge Funds Weigh In On Clarivate

Institutional investors and hedge funds have recently made changes to their positions in the stock. M&T Bank Corp purchased a new stake in shares of Clarivate in the fourth quarter worth approximately $34,000. Essex Financial Services Inc. purchased a new stake in Clarivate in the 3rd quarter valued at $41,000. Jump Financial LLC bought a new position in Clarivate during the 4th quarter valued at $41,000. North Dakota State Investment Board purchased a new position in Clarivate during the 4th quarter worth $42,000. Finally, Beese Fulmer Investment Management Inc. bought a new stake in shares of Clarivate in the 4th quarter worth $44,000. Institutional investors own 85.72% of the company’s stock.

Clarivate Trading Down 4.4%

NYSE CLVT opened at $2.30 on Monday. The firm has a market capitalization of $1.47 billion, a PE ratio of -7.65 and a beta of 1.55. The business’s 50-day moving average price is $2.72 and its two-hundred day moving average price is $3.43. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.89. Clarivate has a 12 month low of $1.66 and a 12 month high of $4.77.

Clarivate Company Profile

Clarivate plc is a global information and analytics company that provides insights and workflow solutions to accelerate the pace of innovation. The company delivers proprietary data, analytics, and expertise to support research and development in the life sciences, intellectual property management, academic institutions, government agencies, and corporations. Its core offerings include citation and patent databases, drug pipeline analytics, trademark research tools, regulatory compliance solutions, and market intelligence platforms.

Originally part of Thomson Reuters’ Intellectual Property & Science division, Clarivate was established as an independent entity in 2016 following a spin-off transaction.