Converge Technology Solutions Corp. (TSE:CTS) Receives C$28.83 Average Target Price from Analysts

Converge Technology Solutions Corp. (TSE:CTS) has earned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and three have issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$28.83.

Several research analysts recently issued reports on the stock. TD Securities upgraded shares of Converge Technology Solutions from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. CIBC increased their price target on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a research note on Monday, February 10th. 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. Stifel Nicolaus set a C$4.00 price objective on Converge Technology Solutions and gave the company a “hold” rating in a research report on Thursday, January 16th. Finally, Ventum Financial cut 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 research note on Monday, February 10th.

Converge Technology Solutions Trading Up 0.2 %

CTS stock opened at C$5.47 on Friday. The company has a debt-to-equity ratio of 85.78, a current ratio of 0.96 and a quick ratio of 0.68. The stock has a market capitalization of C$1.03 billion, a price-to-earnings ratio of -6.56, a P/E/G ratio of 0.14 and a beta of 1.81. The business has a fifty day moving average price of C$4.98 and a 200 day moving average price of C$4.16. Converge Technology Solutions has a fifty-two week low of C$2.90 and a fifty-two week high of C$5.87.

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.