Clarivate (NYSE:CLVT) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Clarivate (NYSE:CLVT) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other equities analysts also recently issued reports on CLVT. Citigroup lowered their price target on Clarivate from $2.80 to $2.50 and set a “neutral” rating for the company in a report on Thursday. The Goldman Sachs Group cut their price objective on shares of Clarivate from $2.90 to $2.60 and set a “neutral” rating on the stock in a report on Thursday. 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 report on Thursday. Barclays lowered their target price on shares of Clarivate from $2.50 to $2.00 and set an “underweight” rating for the company in a report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Clarivate in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $3.02.

Clarivate Stock Performance

NYSE:CLVT opened at $2.00 on Friday. Clarivate has a 12 month low of $1.66 and a 12 month high of $4.55. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.84. The firm has a market capitalization of $1.28 billion, a PE ratio of -3.86 and a beta of 1.38. The business’s fifty day moving average price is $2.27 and its 200 day moving average price is $2.42.

Clarivate (NYSE:CLVT) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. Clarivate had a positive return on equity of 9.15% and a negative net margin of 13.84%.The business had revenue of $587.30 million during the quarter, compared to analysts’ expectations of $589.73 million. During the same period in the prior year, the firm posted $0.18 EPS. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Clarivate will post 0.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CLVT. First Trust Advisors LP boosted its holdings in shares of Clarivate by 10.3% in the first quarter. First Trust Advisors LP now owns 5,522,601 shares of the company’s stock valued at $13,972,000 after acquiring an additional 516,418 shares during the period. Iridian Asset Management LLC CT grew its position in shares of Clarivate by 52.4% during the fourth quarter. Iridian Asset Management LLC CT now owns 1,528,410 shares of the company’s stock worth $5,105,000 after acquiring an additional 525,452 shares during the last quarter. KBC Group NV acquired a new position in shares of Clarivate in the 1st quarter valued at $4,118,000. BW Gestao de Investimentos Ltda. increased its holdings in shares of Clarivate by 51.7% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 4,345,321 shares of the company’s stock valued at $14,513,000 after acquiring an additional 1,480,300 shares during the period. Finally, LSV Asset Management increased its holdings in shares of Clarivate by 25.6% in the 4th quarter. LSV Asset Management now owns 2,647,900 shares of the company’s stock valued at $8,844,000 after acquiring an additional 540,400 shares during the period. Institutional investors and hedge funds 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.