Climb Global Solutions (NASDAQ:CLMB) Upgraded by Zacks Research to “Hold” Rating

Climb Global Solutions (NASDAQ:CLMB) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Several other brokerages have also recently commented on CLMB. Wall Street Zen cut Climb Global Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Barrington Research reissued an “outperform” rating and issued a $136.00 price objective on shares of Climb Global Solutions in a research note on Friday, November 7th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Climb Global Solutions in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $136.00.

Climb Global Solutions Price Performance

Climb Global Solutions stock opened at $111.55 on Tuesday. Climb Global Solutions has a fifty-two week low of $88.90 and a fifty-two week high of $145.02. The firm’s 50 day simple moving average is $107.14 and its 200-day simple moving average is $116.15. The company has a market cap of $514.25 million, a P/E ratio of 23.99, a price-to-earnings-growth ratio of 1.66 and a beta of 1.16.

Climb Global Solutions (NASDAQ:CLMB) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.16. Climb Global Solutions had a net margin of 3.44% and a return on equity of 26.52%. The firm had revenue of $161.34 million during the quarter, compared to analyst estimates of $125.29 million. On average, analysts expect that Climb Global Solutions will post 4.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Climb Global Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. AltraVue Capital LLC acquired a new stake in Climb Global Solutions in the third quarter valued at approximately $13,817,000. Wasatch Advisors LP raised its holdings in shares of Climb Global Solutions by 29.5% during the 2nd quarter. Wasatch Advisors LP now owns 281,131 shares of the company’s stock valued at $30,056,000 after purchasing an additional 63,975 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Climb Global Solutions by 2,446.4% in the 3rd quarter. Invesco Ltd. now owns 65,263 shares of the company’s stock valued at $8,800,000 after purchasing an additional 62,700 shares during the last quarter. CSM Advisors LLC bought a new stake in Climb Global Solutions in the second quarter worth $3,655,000. Finally, Thrivent Financial for Lutherans boosted its holdings 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 worth $13,818,000 after purchasing an additional 28,089 shares in the last quarter. 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.