TD Securities Lowers Converge Technology Solutions (TSE:CTS) Price Target to C$4.50

Converge Technology Solutions (TSE:CTS) had its price objective lowered by analysts at TD Securities from C$5.00 to C$4.50 in a note issued to investors on Wednesday,BayStreet.CA reports. TD Securities’ target price suggests a potential upside of 25.00% from the company’s current price.

A number of other research firms have also commented on CTS. CIBC decreased their price objective on Converge Technology Solutions from C$5.00 to C$4.00 in a research note on Friday, October 25th. Cormark cut shares of Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research note on Friday, October 25th. National Bank Financial downgraded shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Scotiabank lowered shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group cut their price target on Converge Technology Solutions from C$6.25 to C$6.00 in a report on Friday, October 25th. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$5.86.

Converge Technology Solutions Price Performance

CTS stock opened at C$3.60 on Wednesday. The company has a debt-to-equity ratio of 99.08, a quick ratio of 0.68 and a current ratio of 1.00. The stock’s 50 day moving average price is C$4.10 and its 200 day moving average price is C$4.45. The firm has a market cap of C$702.72 million, a P/E ratio of -4.58, 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.

Insider Buying and Selling at Converge Technology Solutions

In other news, Senior Officer Greg Berard acquired 10,105 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of C$4.42 per share, for a total transaction of C$44,684.31. 5.97% of the stock is currently owned by corporate insiders.

Converge Technology Solutions Company Profile

Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions in the United States and Canada. Its solutions approach delivers advanced analytics, artificial intelligence, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries.