Climb Global Solutions (NASDAQ:CLMB) Stock Rating Upgraded by Northcoast Research

Climb Global Solutions (NASDAQ:CLMB) was upgraded by equities researchers at Northcoast Research to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also commented on CLMB. Barrington Research dropped their price target on shares of Climb Global Solutions from $34.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. Zacks Research upgraded shares of Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Northland Securities started coverage on shares of Climb Global Solutions in a research report on Monday. They issued an “outperform” rating and a $32.00 target price on the stock. Wall Street Zen lowered shares of Climb Global Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Finally, Weiss Ratings downgraded shares of Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. One 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, Climb Global Solutions has an average rating of “Moderate Buy” and a consensus price target of $31.00.

Climb Global Solutions Price Performance

Shares of NASDAQ CLMB opened at $20.01 on Monday. The company has a market capitalization of $92.25 million, a price-to-earnings ratio of 4.30, a price-to-earnings-growth ratio of 1.24 and a beta of 1.18. The business has a 50-day moving average of $26.55 and a two-hundred day moving average of $28.56. Climb Global Solutions has a 1 year low of $18.91 and a 1 year high of $36.26.

Climb Global Solutions (NASDAQ:CLMB) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. Climb Global Solutions had a return on equity of 21.86% and a net margin of 3.27%.The business had revenue of $193.85 million for the quarter, compared to the consensus estimate of $167.75 million. As a group, equities research analysts expect that Climb Global Solutions will post 4.14 earnings per share for the current year.

Insider Buying and Selling at Climb Global Solutions

In related news, CEO Dale Richard Foster sold 34,000 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $20.13, for a total transaction of $684,250.00. Following the transaction, the chief executive officer owned 294,760 shares of the company’s stock, valued at $5,932,045. This trade represents a 10.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 6.10% of the company’s stock.

Institutional Trading of Climb Global Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Conestoga Capital Advisors LLC acquired a new position in Climb Global Solutions in the 3rd quarter valued at $1,210,000. New York State Common Retirement Fund raised its position in Climb Global Solutions by 1,069.8% during the 3rd quarter. New York State Common Retirement Fund now owns 21,465 shares of the company’s stock worth $2,894,000 after buying an additional 19,630 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Climb Global Solutions by 37.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 102,478 shares of the company’s stock worth $13,818,000 after acquiring an additional 28,089 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Climb Global Solutions in the second quarter valued at about $999,000. Finally, Rhumbline Advisers boosted its holdings in shares of Climb Global Solutions by 454.5% in the third quarter. Rhumbline Advisers now owns 33,311 shares of the company’s stock valued at $4,492,000 after acquiring an additional 27,304 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.