Converge Technology Solutions (TSE:CTS) Stock Rating Upgraded by TD Securities

Converge Technology Solutions (TSE:CTS) was upgraded by analysts at TD Securities from a “strong sell” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Cormark raised shares of Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a report on Monday, January 13th. Scotiabank boosted their price objective on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a research report on Friday, February 7th. Canaccord Genuity Group cut their target price on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a report on Friday, October 25th. Ventum Financial lowered Converge Technology Solutions from a “buy” rating to a “tender” rating and lowered their target price for the company from C$6.00 to C$5.50 in a report on Monday. Finally, Raymond James cut their price target on Converge Technology Solutions from C$6.50 to C$4.50 in a report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$5.73.

Converge Technology Solutions Stock Performance

CTS stock opened at C$5.40 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 99.08. The company has a market cap of C$1.05 billion, a price-to-earnings ratio of -6.75, a PEG ratio of 0.14 and a beta of 1.81. The business has a fifty day simple moving average of C$3.56 and a 200-day simple moving average of C$3.89. Converge Technology Solutions has a 52 week low of C$2.90 and a 52 week high of C$6.06.

Converge Technology Solutions (TSE:CTS) last released its quarterly earnings data on Tuesday, November 12th. The company reported C$0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.08 by C$0.04. Converge Technology Solutions had a negative net margin of 6.10% and a negative return on equity of 33.46%. During the same quarter in the prior year, the company earned $0.10 earnings per share. On average, equities research analysts expect that Converge Technology Solutions will post 0.6884058 EPS for the current year.

About Converge Technology Solutions

Converge Technology Solutions Corp is a Canadian company building a platform of regionally focused Hybrid IT infrastructure providers that deliver best-of-breed solutions and services in the United States. The solutions provided include multi-cloud solutions, the blockchain, resiliency, and managed services, enabling the company to address the business and IT issues that public and private-sector organizations face.