Clarivate (NYSE:CLVT) Lifted to Hold at Zacks Investment Research

Clarivate (NYSE:CLVTGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Clarivate Analytics PLC operates as an information services and analytics company. It offers scientific, patient and academic research, as well as intelligence, domain and brand protection and intellectual property management solutions. Clarivate Analytics PLC, formerly known as Churchill Capital Corp, is based in Jersey, Channel Islands. “

A number of other research firms also recently issued reports on CLVT. Barclays downgraded Clarivate from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $25.00 to $16.00 in a research report on Thursday, February 3rd. TheStreet downgraded Clarivate from a “c-” rating to a “d+” rating in a research report on Monday, March 14th. Morgan Stanley lowered their target price on Clarivate from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, March 11th. Citigroup downgraded Clarivate from a “buy” rating to a “neutral” rating and lowered their target price for the company from $35.00 to $16.00 in a research report on Friday, February 4th. Finally, The Goldman Sachs Group lowered their target price on Clarivate from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, April 19th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Clarivate presently has an average rating of “Buy” and an average price target of $19.50.

Shares of Clarivate stock traded up $0.38 during trading on Tuesday, reaching $14.66. The stock had a trading volume of 4,745,327 shares, compared to its average volume of 5,906,418. The company has a market capitalization of $9.86 billion, a price-to-earnings ratio of -37.59 and a beta of 0.84. The stock has a fifty day moving average price of $15.73 and a two-hundred day moving average price of $18.64. Clarivate has a 52 week low of $11.71 and a 52 week high of $34.79. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.53.

Clarivate (NYSE:CLVTGet Rating) last issued its quarterly earnings results on Monday, May 9th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. The company had revenue of $662.20 million for the quarter, compared to analyst estimates of $662.84 million. Clarivate had a positive return on equity of 4.89% and a negative net margin of 4.77%. The company’s quarterly revenue was up 54.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 earnings per share. On average, equities analysts forecast that Clarivate will post 0.71 EPS for the current fiscal year.

In other news, insider James Gordon Samson sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $14.13, for a total transaction of $226,080.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 124,000 shares of company stock worth $1,745,360. Company insiders own 24.88% of the company’s stock.

Several large investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Clarivate by 3.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 28,801,178 shares of the company’s stock worth $482,708,000 after acquiring an additional 880,590 shares during the period. Partners Group Holding AG boosted its stake in shares of Clarivate by 1,405.5% in the fourth quarter. Partners Group Holding AG now owns 27,403,284 shares of the company’s stock valued at $644,525,000 after buying an additional 25,583,059 shares during the period. Generation Investment Management LLP bought a new stake in shares of Clarivate in the third quarter valued at approximately $547,157,000. BlackRock Inc. boosted its stake in shares of Clarivate by 6.2% in the first quarter. BlackRock Inc. now owns 21,453,033 shares of the company’s stock valued at $359,553,000 after buying an additional 1,252,886 shares during the period. Finally, State Street Corp boosted its stake in shares of Clarivate by 10.0% in the first quarter. State Street Corp now owns 11,090,387 shares of the company’s stock valued at $185,875,000 after buying an additional 1,011,303 shares during the period. Institutional investors own 90.87% of the company’s stock.

About Clarivate (Get Rating)

Clarivate Plc, an information services and analytics company, provides structured information and analytics for discovery, protection, and commercialization of scientific research, innovations, and brands. It offers Web of Science products and services, such as Web of Science, InCites, Journal Citation Reports, EndNote, ScholarOne, Converis, Publons, and Kopernio to organizations that plan, fund, implement, and utilize research; and Life Sciences products, including Cortellis and Newport Integrity for pharmaceutical and biotechnology companies to support research, market intelligence, and competitive monitoring in connection with the development and commercialization of new drugs.

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