Converge Technology Solutions (TSE:CTS) Rating Lowered to Tender at Desjardins

Converge Technology Solutions (TSE:CTS) was downgraded by equities research analysts at Desjardins from a “buy” rating to a “tender” rating in a research note issued to investors on Friday,BayStreet.CA reports. They presently have a C$5.50 target price on the stock, up from their prior target price of C$5.00. Desjardins’ price objective would suggest a potential upside of 1.10% from the stock’s current price.

A number of other research firms have also recently weighed in on CTS. Stifel Canada raised Converge Technology Solutions to a “strong-buy” rating in a report on Wednesday, January 15th. Ventum Financial cut Converge Technology Solutions from a “buy” rating to a “tender” rating and cut their price target for the stock from C$6.00 to C$5.50 in a report on Monday, February 10th. TD Securities raised Converge Technology Solutions from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Canaccord Genuity Group cut Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, CIBC boosted their price target on Converge Technology Solutions from C$4.00 to C$5.50 in a report on Monday, February 10th. Six investment analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Converge Technology Solutions currently has a consensus rating of “Moderate Buy” and an average price target of C$28.83.

Converge Technology Solutions Stock Down 0.2 %

CTS opened at C$5.44 on Friday. The business’s fifty day moving average is C$4.32 and its two-hundred day moving average is C$4.05. The company has a debt-to-equity ratio of 85.78, a quick ratio of 0.68 and a current ratio of 0.96. The company has a market cap of C$1.03 billion, a price-to-earnings ratio of -6.52, a PEG ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a one year low of C$2.90 and a one year high of C$6.06.

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.