Clarivate PLC (NYSE:CLVT) Given Average Rating of “Reduce” by Brokerages

Clarivate PLC (NYSE:CLVT) has earned a consensus rating of “Reduce” from the eight brokerages that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $3.2167.

A number of analysts have weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Clarivate in a report on Friday, March 27th. Barclays lowered their target price on Clarivate from $4.00 to $2.40 and set an “underweight” rating for the company in a report on Wednesday, February 25th. Wall Street Zen lowered Clarivate from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Citigroup lowered their target price on Clarivate from $4.25 to $2.80 and set a “neutral” rating for the company in a report on Wednesday, March 4th. Finally, Royal Bank Of Canada lowered their target price on Clarivate from $5.00 to $3.00 and set a “sector perform” rating for the company in a report on Wednesday, February 25th.

Clarivate Stock Up 0.6%

Clarivate stock opened at $2.47 on Tuesday. The business has a fifty day moving average of $2.41 and a two-hundred day moving average of $2.96. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.89. The firm has a market cap of $1.58 billion, a P/E ratio of -8.22 and a beta of 1.39. Clarivate has a twelve month low of $1.66 and a twelve month high of $4.77.

Hedge Funds Weigh In On Clarivate

Large investors have recently made changes to their positions in the business. M&T Bank Corp acquired a new position in shares of Clarivate during the fourth quarter worth $34,000. Essex Financial Services Inc. acquired a new position in shares of Clarivate during the third quarter worth $41,000. PharVision Advisers LLC acquired a new position in shares of Clarivate during the third quarter worth $45,000. Pitcairn Co. acquired a new position in shares of Clarivate during the second quarter worth $52,000. Finally, Jump Financial LLC acquired a new position in shares of Clarivate during the fourth quarter worth $41,000. 85.72% of the stock is owned by institutional investors and hedge funds.

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.