Barrington Research Reiterates “Outperform” Rating for Climb Global Solutions (NASDAQ:CLMB)
by Teresa Graham · The Cerbat GemClimb Global Solutions (NASDAQ:CLMB – Get Free Report)‘s stock had its “outperform” rating reiterated by stock analysts at Barrington Research in a report issued on Tuesday,Benzinga reports. They currently have a $30.00 target price on the stock. Barrington Research’s price objective would suggest a potential upside of 34.77% from the stock’s previous close.
Several other equities analysts have also commented on CLMB. Wall Street Zen upgraded shares of Climb Global Solutions from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Northland Securities initiated coverage on shares of Climb Global Solutions in a report on Monday, March 23rd. They set an “outperform” rating and a $32.00 target price on the stock. Weiss Ratings lowered shares of Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Zacks Research upgraded shares of Climb Global Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Northcoast Research upgraded shares of Climb Global Solutions to a “strong-buy” rating in a report on Monday, March 23rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.00.
View Our Latest Research Report on CLMB
Climb Global Solutions Stock Performance
Shares of CLMB stock opened at $22.26 on Tuesday. The firm’s 50 day moving average price is $22.88 and its 200-day moving average price is $26.85. Climb Global Solutions has a one year low of $18.91 and a one year high of $36.26. The firm has a market cap of $410.03 million, a P/E ratio of 19.15, a P/E/G ratio of 1.44 and a beta of 1.20.
Climb Global Solutions (NASDAQ:CLMB – Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.26 by $0.27. Climb Global Solutions had a net margin of 3.27% and a return on equity of 21.86%. The firm had revenue of $193.85 million for the quarter, compared to analyst estimates of $167.75 million. As a group, research analysts predict that Climb Global Solutions will post 1.33 EPS for the current fiscal year.
Insider Buying and Selling at Climb Global Solutions
In other news, CEO Dale Richard Foster sold 34,000 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $20.13, for a total value of $684,250.00. Following the sale, the chief executive officer directly owned 294,760 shares in the company, valued at approximately $5,932,045. This trade represents a 10.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.10% of the company’s stock.
Institutional Investors Weigh In On Climb Global Solutions
Hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new stake in shares of Climb Global Solutions in the 3rd quarter valued at $27,000. Global Retirement Partners LLC acquired a new stake in shares of Climb Global Solutions in the 4th quarter valued at $36,000. Bard Associates Inc. acquired a new stake in shares of Climb Global Solutions in the 4th quarter valued at $55,000. Tower Research Capital LLC TRC raised its holdings in shares of Climb Global Solutions by 317.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 555 shares of the company’s stock valued at $59,000 after purchasing an additional 422 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in shares of Climb Global Solutions by 18.2% in the 3rd quarter. IFP Advisors Inc now owns 643 shares of the company’s stock valued at $90,000 after purchasing an additional 99 shares in the last quarter. 49.72% of the stock is currently owned by institutional investors and hedge funds.
Climb Global Solutions Company Profile
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.