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

Clarivate (NYSE:CLVT) had its target price decreased by analysts at Barclays from $6.00 to $5.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s price objective points to a potential downside of 0.79% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Royal Bank of Canada dropped their target price on shares of Clarivate from $8.00 to $7.00 and set a “sector perform” rating for the company in a research report on Wednesday. The Goldman Sachs Group dropped their price objective on shares of Clarivate from $8.50 to $7.50 and set a “buy” rating for the company in a research report on Thursday, May 9th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.56.

Clarivate Price Performance

CLVT traded down $0.36 during midday trading on Wednesday, reaching $5.04. 3,984,846 shares of the company’s stock were exchanged, compared to its average volume of 4,319,592. The stock has a market capitalization of $3.37 billion, a PE ratio of -3.04, a P/E/G ratio of 4.38 and a beta of 1.15. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.86 and a quick ratio of 0.86. The business’s 50-day moving average price is $5.89 and its 200 day moving average price is $6.96. Clarivate has a 1-year low of $5.04 and a 1-year high of $9.60.

Clarivate (NYSE:CLVT) last released its earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. Clarivate had a positive return on equity of 10.11% and a negative net margin of 39.29%. The firm 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 firm posted $0.16 earnings per share. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. As a group, equities analysts anticipate that Clarivate will post 0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Clarivate

A number of institutional investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. increased its stake in shares of Clarivate by 13.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 23,032 shares of the company’s stock worth $213,000 after buying an additional 2,743 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of Clarivate in the 4th quarter worth about $956,000. Handelsbanken Fonder AB raised its stake in shares of Clarivate by 103.8% in the 4th quarter. Handelsbanken Fonder AB now owns 127,600 shares of the company’s stock valued at $1,182,000 after purchasing an additional 65,000 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Clarivate by 12.5% during the fourth quarter. California Public Employees Retirement System now owns 780,468 shares of the company’s stock worth $7,227,000 after purchasing an additional 86,795 shares during the last quarter. Finally, Alaska Permanent Fund Corp grew its stake in Clarivate by 0.9% in the fourth quarter. Alaska Permanent Fund Corp now owns 286,539 shares of the company’s stock worth $2,653,000 after purchasing an additional 2,539 shares in the last quarter. 85.72% of the stock is owned by institutional investors and hedge funds.

About Clarivate

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.