Climb Global Solutions (NASDAQ:CLMB) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Climb Global Solutions (NASDAQ:CLMB) from a hold rating to a sell rating in a report issued on Saturday morning.

CLMB has been the topic of a number of other reports. Zacks Research upgraded shares of Climb Global Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Barrington Research dropped their price target on shares of Climb Global Solutions from $136.00 to $120.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Weiss Ratings lowered Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $120.00.

Climb Global Solutions Trading Down 2.9%

CLMB stock opened at $87.12 on Friday. The company has a market capitalization of $401.62 million, a PE ratio of 18.74, a P/E/G ratio of 1.37 and a beta of 1.18. Climb Global Solutions has a 12-month low of $80.08 and a 12-month high of $145.02. The business’s fifty day moving average price is $112.44 and its 200 day moving average price is $117.60.

Climb Global Solutions shares are set to split on the morning of Monday, March 23rd. The 4-1 split was announced on Monday, March 2nd. The newly minted shares will be distributed to shareholders after the closing bell on Friday, March 20th.

Climb Global Solutions (NASDAQ:CLMB) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.27. The business had revenue of $193.85 million for the quarter, compared to analysts’ expectations of $167.75 million. Climb Global Solutions had a net margin of 3.27% and a return on equity of 21.86%. Research analysts predict that Climb Global Solutions will post 4.14 EPS for the current fiscal year.

Institutional Trading of Climb Global Solutions

Several hedge funds have recently added to or reduced their stakes in the company. Aviva PLC purchased a new position in Climb Global Solutions in the second quarter worth approximately $473,000. Conestoga Capital Advisors LLC purchased a new stake in shares of Climb Global Solutions in the 3rd quarter valued at approximately $1,210,000. New York State Common Retirement Fund increased its position in shares of Climb Global Solutions by 1,069.8% in the 3rd quarter. New York State Common Retirement Fund now owns 21,465 shares of the company’s stock valued at $2,894,000 after purchasing an additional 19,630 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings 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 valued at $13,818,000 after purchasing an additional 28,089 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Climb Global Solutions in the 2nd quarter valued at $999,000. Institutional investors and hedge funds own 49.72% of the company’s stock.

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.