Climb Global Solutions (NASDAQ:CLMB) Stock Rating Reaffirmed by Barrington Research

Climb Global Solutions (NASDAQ:CLMB)‘s stock had its “outperform” rating reaffirmed by analysts at Barrington Research in a note issued to investors on Tuesday, Benzinga reports. They currently have a $76.00 price objective on the stock. Barrington Research’s target price would suggest a potential upside of 15.08% from the stock’s current price.

Climb Global Solutions Stock Up 2.5 %

Shares of CLMB opened at $66.04 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 1.07. Climb Global Solutions has a one year low of $37.67 and a one year high of $73.25. The stock has a market capitalization of $301.80 million, a price-to-earnings ratio of 24.28, a PEG ratio of 2.32 and a beta of 0.95. The stock has a 50 day moving average price of $67.01 and a 200 day moving average price of $56.91.

Climb Global Solutions (NASDAQ:CLMB) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.68 by $0.47. Climb Global Solutions had a return on equity of 20.65% and a net margin of 3.50%. The firm had revenue of $106.78 million during the quarter, compared to analysts’ expectations of $88.99 million. Equities research analysts forecast that Climb Global Solutions will post 2.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Climb Global Solutions

In other Climb Global Solutions news, CEO Dale Richard Foster sold 3,500 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $65.49, for a total value of $229,215.00. Following the completion of the sale, the chief executive officer now directly owns 102,092 shares of the company’s stock, valued at approximately $6,686,005.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Dale Richard Foster sold 3,500 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $65.49, for a total value of $229,215.00. Following the completion of the sale, the chief executive officer now owns 102,092 shares of the company’s stock, valued at approximately $6,686,005.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Charles Edward Bass sold 500 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $65.05, for a total transaction of $32,525.00. Following the sale, the chief marketing officer now owns 37,097 shares of the company’s stock, valued at approximately $2,413,159.85. The disclosure for this sale can be found here. 9.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Climb Global Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cove Street Capital LLC increased its position in shares of Climb Global Solutions by 34.0% during the 3rd quarter. Cove Street Capital LLC now owns 199,102 shares of the company’s stock worth $8,810,000 after purchasing an additional 50,499 shares during the last quarter. Punch & Associates Investment Management Inc. increased its position in shares of Climb Global Solutions by 16.0% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 168,966 shares of the company’s stock worth $7,267,000 after purchasing an additional 23,279 shares during the last quarter. Wasatch Advisors LP increased its position in shares of Climb Global Solutions by 41.8% during the 1st quarter. Wasatch Advisors LP now owns 146,298 shares of the company’s stock worth $10,370,000 after purchasing an additional 43,095 shares during the last quarter. Tieton Capital Management LLC increased its position in shares of Climb Global Solutions by 32.5% during the 4th quarter. Tieton Capital Management LLC now owns 123,404 shares of the company’s stock worth $6,766,000 after purchasing an additional 30,248 shares during the last quarter. Finally, Ballast Asset Management LP acquired a new stake in shares of Climb Global Solutions during the 3rd quarter worth about $2,753,000. Hedge funds and other institutional investors 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.