Clarivate PLC (NYSE:CLVT) Receives Average Rating of “Reduce” from Brokerages

Clarivate PLC (NYSE:CLVT) has been assigned a consensus recommendation of “Reduce” from the seven brokerages that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $3.30.

CLVT has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Clarivate in a research note on Monday, December 29th. Barclays dropped their price objective on shares of Clarivate from $4.00 to $2.40 and set an “underweight” rating on the stock in a research report on Wednesday, February 25th. Morgan Stanley reaffirmed an “underweight” rating and set a $3.00 target price (down from $5.00) on shares of Clarivate in a report on Wednesday, December 17th. Wall Street Zen downgraded shares of Clarivate from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Royal Bank Of Canada decreased their target price on Clarivate from $5.00 to $3.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 25th.

Clarivate Trading Down 4.4%

Shares of Clarivate stock opened at $2.30 on Monday. The stock has a market cap of $1.47 billion, a P/E ratio of -7.65 and a beta of 1.55. The company has a quick ratio of 0.84, a current 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. The business’s 50 day moving average is $2.72 and its 200-day moving average is $3.43.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. M&T Bank Corp bought a new stake in Clarivate during the 4th quarter worth $34,000. Essex Financial Services Inc. bought a new stake in shares of Clarivate during the third quarter worth about $41,000. Jump Financial LLC acquired a new position in shares of Clarivate in the fourth quarter valued at approximately $41,000. North Dakota State Investment Board bought a new position in Clarivate in the 4th quarter valued at approximately $42,000. Finally, Beese Fulmer Investment Management Inc. acquired a new stake in Clarivate during the 4th quarter worth approximately $44,000. Institutional investors own 85.72% of the company’s stock.

About Clarivate

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.