Barrington Research Cuts Climb Global Solutions (NASDAQ:CLMB) Price Target to $120.00

Climb Global Solutions (NASDAQ:CLMB) had its price target lowered by Barrington Research from $136.00 to $120.00 in a report issued on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other brokerages have also recently weighed in on CLMB. Wall Street Zen cut shares of Climb Global Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Weiss Ratings downgraded Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Finally, Zacks Research upgraded Climb Global Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $120.00.

Climb Global Solutions Trading Down 2.9%

CLMB stock opened at $87.12 on Thursday. The company has a fifty day simple moving average of $112.44 and a 200 day simple moving average of $117.60. Climb Global Solutions has a 1 year low of $80.08 and a 1 year high of $145.02. The firm has a market cap of $401.62 million, a PE ratio of 18.74, a PEG ratio of 1.37 and a beta of 1.18.

Climb Global Solutions’s stock is going to split on the morning of Monday, March 23rd. The 4-1 split was announced on Monday, March 2nd. The newly issued shares will be payable to shareholders after the market closes on Friday, March 20th.

Climb Global Solutions (NASDAQ:CLMB) last released its quarterly earnings data on Wednesday, February 25th. The company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.27. The business had revenue of $193.85 million during the quarter, compared to the consensus estimate of $167.75 million. Climb Global Solutions had a return on equity of 21.86% and a net margin of 3.27%. As a group, analysts forecast that Climb Global Solutions will post 4.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Climb Global Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the company. Aviva PLC bought a new position in shares of Climb Global Solutions during the 2nd quarter worth approximately $473,000. Conestoga Capital Advisors LLC acquired a new position in Climb Global Solutions during the third quarter worth $1,210,000. New York State Common Retirement Fund boosted its holdings in Climb Global Solutions by 1,069.8% during the third quarter. New York State Common Retirement Fund now owns 21,465 shares of the company’s stock worth $2,894,000 after purchasing an additional 19,630 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Climb Global Solutions by 37.8% in the third quarter. Thrivent Financial for Lutherans now owns 102,478 shares of the company’s stock valued at $13,818,000 after purchasing an additional 28,089 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in Climb Global Solutions in the second quarter valued at $999,000. Institutional investors and hedge funds own 49.72% of the company’s stock.

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.