Clarivate (NYSE:CLVT) Now Covered by Analysts at Bank of America

Equities research analysts at Bank of America initiated coverage on shares of Clarivate (NYSE:CLVT – Get Rating) in a note issued to investors on Wednesday, The Fly reports. The brokerage set a “neutral” rating on the stock.

Several other equities research analysts have also recently issued reports on the company. Wells Fargo & Company lifted their target price on Clarivate from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, March 2nd. TheStreet cut Clarivate from a “c-” rating to a “d” rating in a research note on Monday, November 21st. Morgan Stanley cut Clarivate from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $11.00 to $12.00 in a research note on Monday, February 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $14.00 price objective on shares of Clarivate in a research note on Friday, March 10th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Clarivate has an average rating of “Moderate Buy” and a consensus target price of $13.88.

Clarivate Trading Down 1.1 %

Shares of CLVT stock opened at $9.79 on Wednesday. Clarivate has a 12-month low of $7.85 and a 12-month high of $17.50. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.92. The stock’s 50-day moving average price is $10.60 and its 200-day moving average price is $10.06. The stock has a market capitalization of $6.60 billion, a price-to-earnings ratio of -1.58 and a beta of 1.09.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Clarivate by 3.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 143,922 shares of the company’s stock valued at $1,351,000 after buying an additional 5,379 shares during the period. Barclays PLC boosted its position in shares of Clarivate by 56.6% during the third quarter. Barclays PLC now owns 330,471 shares of the company’s stock valued at $3,104,000 after buying an additional 119,507 shares during the period. Alpha Paradigm Partners LLC purchased a new position in shares of Clarivate during the third quarter valued at approximately $667,000. Allstate Corp boosted its position in shares of Clarivate by 113.4% during the third quarter. Allstate Corp now owns 54,365 shares of the company’s stock valued at $510,000 after buying an additional 28,889 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in shares of Clarivate during the second quarter valued at approximately $430,000. Hedge funds and other institutional investors own 87.34% of the company’s stock.

Clarivate Company Profile

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Clarivate Plc engages in the provision of global information, analytics and workflow solutions. It operates through the Science and Intellectual Property segments. The Science segment is composed of the academia and government, and life science and healthcare product lines. The Intellectual Property segment includes the patent, trademark, domain, and IP management product lines.