Wall Street Zen Downgrades Clarivate (NYSE:CLVT) to Hold

Clarivate (NYSE:CLVT) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other research firms have also issued reports on CLVT. Stifel Nicolaus reduced their price objective on shares of Clarivate from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday. Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a research report on Wednesday, June 24th. The Goldman Sachs Group cut their target price on Clarivate from $2.90 to $2.60 and set a “neutral” rating on the stock in a report on Thursday. Barclays reduced their price target on Clarivate from $2.50 to $2.00 and set an “underweight” rating for the company in a research report on Thursday. Finally, 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. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $3.02.

Clarivate Trading Up 1.3%

NYSE:CLVT opened at $2.00 on Friday. The company has a market capitalization of $1.28 billion, a P/E ratio of -3.86 and a beta of 1.40. The stock’s 50 day moving average price is $2.27 and its 200 day moving average price is $2.41. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.85 and a current ratio of 0.85. Clarivate has a 52 week low of $1.66 and a 52 week high of $4.55.

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 analysts’ expectations of $589.73 million. During the same period in the previous year, the company earned $0.18 earnings per share. The company’s revenue was down 5.5% compared to the same quarter last year. On average, research analysts forecast that Clarivate will post 0.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CLVT. M&T Bank Corp acquired a new position in shares of Clarivate during the fourth quarter worth approximately $34,000. PharVision Advisers LLC acquired a new stake in shares of Clarivate in the third quarter worth $45,000. Personal CFO Solutions LLC acquired a new stake in shares of Clarivate in the first quarter worth $30,000. FreeGulliver LLC bought a new position in Clarivate during the first quarter worth $30,000. Finally, Pitcairn Co. bought a new position in Clarivate during the second quarter worth $52,000. Institutional investors own 85.72% of the company’s stock.

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.