Climb Global Solutions’ (CLMB) “Outperform” Rating Reiterated at Barrington Research
by Sarita Garza · The Markets DailyBarrington Research reissued their outperform rating on shares of Climb Global Solutions (NASDAQ:CLMB – Free Report) in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a $30.00 price objective on the stock.
Other equities analysts have also recently issued reports about the company. Northcoast Research upgraded Climb Global Solutions to a “strong-buy” rating in a report on Monday, March 23rd. Weiss Ratings cut Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Zacks Research upgraded Climb Global Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Wall Street Zen upgraded Climb Global Solutions from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Finally, Northland Securities began coverage on Climb Global Solutions in a report on Monday, March 23rd. They set an “outperform” rating and a $32.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.00.
Check Out Our Latest Stock Report on CLMB
Climb Global Solutions Stock Performance
Climb Global Solutions stock opened at $21.25 on Tuesday. The stock has a market capitalization of $391.43 million, a price-to-earnings ratio of 18.28, a PEG ratio of 1.40 and a beta of 1.20. Climb Global Solutions has a 52-week low of $18.91 and a 52-week high of $36.26. The stock’s 50 day moving average price is $22.45 and its two-hundred day moving average price is $26.69.
Climb Global Solutions (NASDAQ:CLMB – Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.27. The firm had revenue of $193.85 million for the quarter, compared to analysts’ expectations of $167.75 million. Climb Global Solutions had a return on equity of 21.86% and a net margin of 3.27%. On average, equities research analysts forecast that Climb Global Solutions will post 1.33 EPS for the current year.
Insider Buying and Selling at Climb Global Solutions
In other news, CEO Dale Richard Foster sold 34,000 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $20.13, for a total transaction of $684,250.00. Following the transaction, the chief executive officer directly owned 294,760 shares of the company’s stock, valued at $5,932,045. This represents a 10.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.10% of the stock is owned by insiders.
Hedge Funds Weigh In On Climb Global Solutions
A number of institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC raised its position in shares of Climb Global Solutions by 307.6% during the first quarter. Janney Montgomery Scott LLC now owns 79,185 shares of the company’s stock worth $1,569,000 after purchasing an additional 59,758 shares during the period. Venturi Wealth Management LLC raised its position in shares of Climb Global Solutions by 305.9% during the first quarter. Venturi Wealth Management LLC now owns 13,260 shares of the company’s stock worth $263,000 after purchasing an additional 9,993 shares during the period. Wasatch Advisors LP raised its position in Climb Global Solutions by 116.1% in the 1st quarter. Wasatch Advisors LP now owns 607,680 shares of the company’s stock valued at $12,044,000 after buying an additional 326,520 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its position in Climb Global Solutions by 171.4% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 14,456 shares of the company’s stock valued at $287,000 after buying an additional 9,130 shares during the last quarter. Finally, Evolve Private Wealth LLC raised its position in Climb Global Solutions by 323.3% in the 1st quarter. Evolve Private Wealth LLC now owns 21,802 shares of the company’s stock valued at $432,000 after buying an additional 16,652 shares during the last quarter. 49.72% of the stock is owned by institutional investors and hedge funds.
About Climb Global Solutions
Climb Global Solutions Inc operates as a value-added information technology (IT) distribution and solutions company in the United States, Canada, Europe, the United Kingdom, and internationally. It operates in two segments, Distribution and Solutions. The company distributes technical software to corporate and value-added resellers, consultants, and systems integrators under the name Climb Channel Solutions; and provides cloud solutions and resells software, hardware, and services under the name Grey Matter.