Converge Technology Solutions Corp. (TSE:CTS) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Converge Technology Solutions Corp. (TSE:CTS) have been given an average recommendation of “Moderate Buy” by the nine research firms that are covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and three have given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is C$28.83.

A number of equities research analysts have weighed in on CTS shares. Stifel Nicolaus set a C$4.00 price objective on shares of Converge Technology Solutions and gave the stock a “hold” rating in a report on Thursday, January 16th. Desjardins cut Converge Technology Solutions from a “buy” rating to a “tender” rating and boosted their price target for the stock from C$5.00 to C$5.50 in a research report on Friday, March 7th. Stifel Canada raised Converge Technology Solutions to a “strong-buy” rating in a research report on Wednesday, January 15th. Canaccord Genuity Group lifted their price objective on Converge Technology Solutions from C$153.00 to C$154.00 and gave the company a “hold” rating in a research note on Friday, March 7th. Finally, Scotiabank increased their target price on Converge Technology Solutions from C$4.00 to C$5.50 in a research note on Friday, February 7th.

Converge Technology Solutions Stock Performance

Shares of CTS stock opened at C$5.43 on Wednesday. The company’s fifty day moving average price is C$4.41 and its 200-day moving average price is C$4.06. The stock has a market cap of C$1.02 billion, a PE ratio of -6.51, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. The company has a current ratio of 0.96, a quick ratio of 0.68 and a debt-to-equity ratio of 85.78. Converge Technology Solutions has a 12 month low of C$2.90 and a 12 month 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.