Climb Global Solutions’ (CLMB) Outperform Rating Reaffirmed at Barrington Research

Barrington Research reiterated their outperform rating on shares of Climb Global Solutions (NASDAQ:CLMB) in a research note released on Tuesday,Benzinga reports. The brokerage currently has a $30.00 target price on the stock.

CLMB has been the subject of several other research reports. Weiss Ratings downgraded shares of Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Northcoast Research raised Climb Global Solutions to a “strong-buy” rating in a report on Monday, March 23rd. Zacks Research raised Climb Global Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Northland Securities assumed coverage on Climb Global Solutions in a research note on Monday, March 23rd. They set an “outperform” rating and a $32.00 price objective for the company. Finally, Wall Street Zen raised Climb Global Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.00.

Climb Global Solutions Stock Up 1.3%

Shares of CLMB opened at $22.55 on Tuesday. The stock has a 50 day moving average price of $22.74 and a 200 day moving average price of $26.76. The company has a market capitalization of $415.44 million, a price-to-earnings ratio of 19.40, a price-to-earnings-growth 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.

Climb Global Solutions (NASDAQ:CLMB) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate 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 net margin of 3.27% and a return on equity of 21.86%. On average, equities analysts anticipate that Climb Global Solutions will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling

In other Climb Global Solutions 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 completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Climb Global Solutions

A number of large investors have recently modified their holdings of CLMB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Climb Global Solutions by 5.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,522 shares of the company’s stock worth $279,000 after buying an additional 131 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Climb Global Solutions during the 1st quarter worth approximately $426,000. JPMorgan Chase & Co. raised its stake in shares of Climb Global Solutions by 221.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 32,914 shares of the company’s stock worth $3,519,000 after buying an additional 22,676 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Climb Global Solutions by 21.1% during the 2nd quarter. Rhumbline Advisers now owns 6,007 shares of the company’s stock worth $642,000 after buying an additional 1,047 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Climb Global Solutions by 31.4% during the 2nd quarter. American Century Companies Inc. now owns 9,028 shares of the company’s stock worth $965,000 after buying an additional 2,159 shares in the last quarter. 49.72% of the stock is owned by hedge funds and other institutional investors.

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.