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

Climb Global Solutions (NASDAQ:CLMB)‘s stock had its “outperform” rating reissued by stock analysts at Barrington Research in a note issued to investors on Tuesday,Benzinga reports. They currently have a $30.00 target price on the stock. Barrington Research’s price objective would indicate a potential upside of 52.13% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Wall Street Zen lowered Climb Global Solutions from a “hold” rating to a “sell” rating in a research report on Saturday. Northland Securities started coverage on Climb Global Solutions in a research note on Monday, March 23rd. They issued an “outperform” rating and a $32.00 price target for the company. Northcoast Research upgraded shares of Climb Global Solutions to a “strong-buy” rating in a report on Monday, March 23rd. Zacks Research raised shares of Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings upgraded shares of Climb Global Solutions from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.00.

Climb Global Solutions Stock Performance

NASDAQ:CLMB traded up $0.97 during midday trading on Tuesday, reaching $19.72. 231,764 shares of the stock traded hands, compared to its average volume of 270,945. The stock has a market capitalization of $364.23 million, a P/E ratio of 17.30, a PEG ratio of 1.19 and a beta of 1.00. The company has a fifty day moving average of $21.49 and a 200 day moving average of $26.11. Climb Global Solutions has a 12 month low of $15.24 and a 12 month high of $36.26.

Climb Global Solutions (NASDAQ:CLMB) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). The firm had revenue of $182.38 million during the quarter, compared to the consensus estimate of $151.33 million. Climb Global Solutions had a return on equity of 20.43% and a net margin of 3.01%. On average, analysts predict that Climb Global Solutions will post 1.33 EPS for the current fiscal year.

Insider Activity at Climb Global Solutions

In other news, CEO Dale Richard Foster sold 34,000 shares of the firm’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 value of $684,250.00. Following the completion of the transaction, the chief executive officer owned 294,760 shares in the company, valued at $5,932,045. This trade represents a 10.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John R. Mccarthy purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were purchased at an average price of $18.83 per share, for a total transaction of $75,320.00. Following the completion of the transaction, the director directly owned 85,876 shares of the company’s stock, valued at $1,617,045.08. This represents a 4.89% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Climb Global Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of CLMB. Conestoga Capital Advisors LLC purchased a new position in Climb Global Solutions during the 3rd quarter valued at about $1,210,000. New York State Common Retirement Fund grew its holdings in Climb Global Solutions by 1,069.8% in 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 period. Thrivent Financial for Lutherans increased its stake in shares of Climb Global Solutions by 37.8% during 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. Rhumbline Advisers increased its stake in shares of Climb Global Solutions by 454.5% during the third quarter. Rhumbline Advisers now owns 33,311 shares of the company’s stock valued at $4,492,000 after purchasing an additional 27,304 shares in the last quarter. Finally, Caprock Group LLC purchased a new position in shares of Climb Global Solutions during the third quarter valued at approximately $780,000. 49.72% of the stock is owned by hedge funds and other institutional investors.

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.