Clarivate (NYSE:CLVT) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Clarivate (NYSE:CLVT) from a buy rating to a hold rating in a report published on Saturday morning.

Several other brokerages also recently issued reports on CLVT. Barclays reduced their price objective on Clarivate from $2.50 to $2.00 and set an “underweight” rating for the company in a research report on Thursday. Weiss Ratings restated a “sell (e+)” rating on shares of Clarivate in a research report on Wednesday, June 24th. The Goldman Sachs Group reduced their price target on Clarivate from $2.90 to $2.60 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Citigroup decreased their price target on Clarivate from $2.80 to $2.50 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Finally, Stifel Nicolaus lowered their price target on Clarivate from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $3.02.

Clarivate Trading Down 1.8%

Shares of NYSE:CLVT opened at $1.95 on Friday. The company has a market cap of $1.24 billion, a PE ratio of -3.74 and a beta of 1.40. The company’s 50-day moving average price is $2.26 and its 200 day moving average price is $2.40. Clarivate has a fifty-two week low of $1.66 and a fifty-two week high of $4.55. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.93.

Clarivate (NYSE:CLVT) last posted its earnings results on Wednesday, July 29th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. Clarivate had a negative net margin of 13.84% and a positive return on equity of 9.15%. The firm had revenue of $587.30 million during the quarter, compared to analyst estimates of $589.73 million. During the same period in the previous year, the business posted $0.18 EPS. Clarivate’s revenue was down 5.5% on a year-over-year basis. Sell-side analysts anticipate that Clarivate will post 0.65 earnings per share for the current year.

Institutional Investors Weigh In On Clarivate

Institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its stake in Clarivate by 94.2% during the 1st quarter. Parallel Advisors LLC now owns 13,786 shares of the company’s stock valued at $35,000 after purchasing an additional 6,687 shares in the last quarter. Amundi raised its stake in shares of Clarivate by 1,670.2% in the 1st quarter. Amundi now owns 558,992 shares of the company’s stock worth $1,414,000 after buying an additional 527,414 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Clarivate by 44.8% in the first quarter. Royal Bank of Canada now owns 32,818 shares of the company’s stock valued at $83,000 after buying an additional 10,149 shares during the period. Empowered Funds LLC boosted its stake in Clarivate by 418.6% during the first quarter. Empowered Funds LLC now owns 2,015,829 shares of the company’s stock valued at $5,100,000 after buying an additional 1,627,159 shares in the last quarter. Finally, FreeGulliver LLC bought a new position in Clarivate during the first quarter valued at about $30,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.

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.