Clarivate’s (CLVT) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Clarivate (NYSE:CLVT) in a research report released on Thursday,Benzinga reports. Royal Bank of Canada currently has a $6.00 price target on the stock.

Several other analysts also recently weighed in on the company. William Blair downgraded Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Barclays cut their price target on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Clarivate presently has a consensus rating of “Hold” and a consensus target price of $7.10.

Clarivate Trading Up 0.1 %

NYSE CLVT opened at $4.85 on Thursday. The firm’s fifty day moving average price is $5.12 and its 200 day moving average price is $5.80. Clarivate has a 12 month low of $4.22 and a 12 month high of $9.07. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.87 and a quick ratio of 0.88. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of -5.05 and a beta of 1.17.

Clarivate declared that its Board of Directors has authorized a stock repurchase plan on Monday, December 16th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 12.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Clarivate

Several large investors have recently modified their holdings of the stock. Creative Planning acquired a new position in Clarivate in the 3rd quarter valued at $142,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Clarivate by 21.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,841 shares of the company’s stock valued at $254,000 after acquiring an additional 6,284 shares in the last quarter. KBC Group NV increased its stake in shares of Clarivate by 33.2% during the third quarter. KBC Group NV now owns 10,225 shares of the company’s stock worth $73,000 after acquiring an additional 2,549 shares during the period. OneDigital Investment Advisors LLC increased its stake in shares of Clarivate by 2.3% during the third quarter. OneDigital Investment Advisors LLC now owns 126,773 shares of the company’s stock worth $900,000 after acquiring an additional 2,865 shares during the period. Finally, Empowered Funds LLC acquired a new stake in Clarivate in the third quarter valued at about $101,000. Hedge funds and other institutional investors 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.