Clarivate (NYSE:CLVT) Hits New 52-Week Low at $5.82

Clarivate Plc (NYSE:CLVT) shares reached a new 52-week low on Friday . The company traded as low as $5.82 and last traded at $5.84, with a volume of 6054092 shares trading hands. The stock had previously closed at $5.95.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Oppenheimer reduced their target price on shares of Clarivate from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Barclays lowered their price target on shares of Clarivate from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Wednesday, February 28th. The Goldman Sachs Group decreased their target price 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. Royal Bank of Canada cut their price target on shares of Clarivate from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Finally, Morgan Stanley decreased their price objective on shares of Clarivate from $9.00 to $8.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 28th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Clarivate currently has an average rating of “Hold” and an average price target of $7.78.

Clarivate Stock Performance

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.03. The stock’s 50 day moving average price is $6.94 and its two-hundred day moving average price is $7.83. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of -3.58, a PEG ratio of 4.08 and a beta of 1.24.

Clarivate (NYSE:CLVT) last released its earnings results on Tuesday, February 27th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.21. Clarivate had a negative net margin of 39.29% and a positive return on equity of 10.11%. The business had revenue of $683.70 million for the quarter, compared to analysts’ expectations of $687.80 million. During the same period last year, the company earned $0.20 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. On average, analysts forecast that Clarivate Plc will post 0.62 EPS for the current year.

Institutional Trading of Clarivate

A number of hedge funds and other institutional investors have recently made changes to their positions in CLVT. Principal Financial Group Inc. boosted its holdings in shares of Clarivate by 5.5% during the third quarter. Principal Financial Group Inc. now owns 36,983 shares of the company’s stock valued at $248,000 after acquiring an additional 1,927 shares during the period. Treasurer of the State of North Carolina boosted its holdings in shares of Clarivate by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 208,731 shares of the company’s stock valued at $1,933,000 after acquiring an additional 2,040 shares during the period. Alaska Permanent Fund Corp boosted its holdings in shares of Clarivate by 0.9% during the fourth quarter. Alaska Permanent Fund Corp now owns 286,539 shares of the company’s stock valued at $2,653,000 after acquiring an additional 2,539 shares during the period. Ironwood Investment Counsel LLC boosted its holdings in shares of Clarivate by 3.5% during the first quarter. Ironwood Investment Counsel LLC now owns 76,225 shares of the company’s stock valued at $566,000 after acquiring an additional 2,575 shares during the period. Finally, M&T Bank Corp boosted its holdings in shares of Clarivate by 12.2% during the third quarter. M&T Bank Corp now owns 23,692 shares of the company’s stock valued at $158,000 after acquiring an additional 2,579 shares during the period. 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.