Royal Bank of Canada Lowers Clarivate (NYSE:CLVT) Price Target to $7.00

Clarivate (NYSE:CLVT) had its price target lowered by equities researchers at Royal Bank of Canada from $8.00 to $7.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 35.14% from the company’s previous close.

Separately, The Goldman Sachs Group lowered their price target on Clarivate from $8.50 to $7.50 and set a “buy” rating for the company in a report on Thursday, May 9th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.67.

Clarivate Price Performance

NYSE:CLVT traded down $0.22 during mid-day trading on Wednesday, reaching $5.18. The stock had a trading volume of 3,224,621 shares, compared to its average volume of 4,314,558. Clarivate has a 12 month low of $5.16 and a 12 month high of $9.60. The stock has a market capitalization of $3.46 billion, a PE ratio of -3.13, 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 stock has a 50-day simple moving average of $5.89 and a two-hundred day simple moving average of $6.96.

Clarivate (NYSE:CLVT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $650.30 million during the quarter, compared to analysts’ expectations of $651.94 million. During the same quarter in the previous year, the firm earned $0.16 EPS. Clarivate’s revenue was down 2.8% on a year-over-year basis. On average, equities analysts anticipate that Clarivate will post 0.62 earnings per share for the current year.

Institutional Investors Weigh In On Clarivate

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC acquired a new stake in Clarivate during the second quarter worth approximately $26,000. Evermay Wealth Management LLC acquired a new stake in Clarivate in the first quarter valued at approximately $31,000. Montag A & Associates Inc. grew its stake in Clarivate by 729.6% in the fourth quarter. Montag A & Associates Inc. now owns 7,732 shares of the company’s stock valued at $72,000 after acquiring an additional 6,800 shares during the period. Forum Financial Management LP acquired a new stake in Clarivate in the second quarter valued at approximately $75,000. Finally, J.W. Cole Advisors Inc. acquired a new stake in Clarivate in the first quarter valued at approximately $76,000. Institutional investors and hedge funds own 85.72% of the company’s stock.

Clarivate Company Profile

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.