Jefferies Financial Group Lowers Converge Technology Solutions (TSE:CTS) Price Target to C$140.00

Converge Technology Solutions (TSE:CTS) had its target price cut by research analysts at Jefferies Financial Group from C$145.00 to C$140.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock.

A number of other brokerages have also issued reports on CTS. Scotiabank increased their price target on Converge Technology Solutions from C$4.00 to C$5.50 in a research note on Friday, February 7th. Cormark raised Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a research note on Monday, January 13th. Canaccord Genuity Group lowered Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research note on Monday, February 10th. TD Securities raised Converge Technology Solutions from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Finally, Stifel Canada raised Converge Technology Solutions to a “strong-buy” rating in a research note on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company. According to MarketBeat, Converge Technology Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of C$28.83.

Converge Technology Solutions Stock Performance

Shares of TSE CTS opened at C$5.44 on Friday. The stock has a fifty day moving average price of C$4.32 and a two-hundred day moving average price of 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 firm has a market cap of C$1.03 billion, a P/E ratio of -6.52, a PEG ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a 1 year low of C$2.90 and a 1 year high of C$6.06.

Converge Technology Solutions Company Profile

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.