Barclays Lowers Clarivate (NYSE:CLVT) Price Target to $5.00

Clarivate (NYSE:CLVT) had its price target cut by stock analysts at Barclays from $6.00 to $5.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s price objective indicates a potential downside of 0.79% from the stock’s current price.

Other analysts have also recently issued reports about the company. Royal Bank of Canada cut their price objective on Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Wednesday. The Goldman Sachs Group dropped their price target on Clarivate from $8.50 to $7.50 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.56.

Clarivate Trading Down 6.7 %

Shares of Clarivate stock traded down $0.36 during trading on Wednesday, reaching $5.04. 3,984,846 shares of the stock were exchanged, compared to its average volume of 4,319,592. Clarivate has a 1 year low of $5.04 and a 1 year high of $9.60. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.03. The stock’s fifty day moving average is $5.89 and its 200 day moving average is $6.96. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of -3.04, a price-to-earnings-growth ratio of 4.38 and a beta of 1.15.

Clarivate (NYSE:CLVT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. Clarivate had a negative net margin of 39.29% and a positive return on equity of 10.11%. The business had revenue of $650.30 million during the quarter, compared to analyst estimates of $651.94 million. During the same period in the prior year, the business earned $0.16 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities research analysts expect that Clarivate will post 0.62 earnings per share for the current fiscal year.

Institutional Trading of Clarivate

A number of institutional investors and hedge funds have recently bought and sold shares of CLVT. Nisa Investment Advisors LLC purchased a new stake in shares of Clarivate during the second quarter valued at approximately $26,000. Evermay Wealth Management LLC bought a new position in shares of Clarivate during the first quarter valued at $31,000. Montag A & Associates Inc. boosted its position in shares of Clarivate by 729.6% during the fourth quarter. Montag A & Associates Inc. now owns 7,732 shares of the company’s stock valued at $72,000 after buying an additional 6,800 shares during the last quarter. Forum Financial Management LP bought a new stake in Clarivate in the 2nd quarter worth about $75,000. Finally, J.W. Cole Advisors Inc. purchased a new position in Clarivate in the 1st quarter worth about $76,000. 85.72% of the stock is currently owned by institutional investors.

Clarivate Company Profile

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.