Converge Technology Solutions (TSE:CTS) Price Target Cut to C$4.50 by Analysts at TD Securities

Converge Technology Solutions (TSE:CTS) had its target price lowered by stock analysts at TD Securities from C$5.00 to C$4.50 in a report released on Wednesday,BayStreet.CA reports. TD Securities’ target price points to a potential upside of 25.00% from the stock’s previous close.

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

Converge Technology Solutions Stock Performance

Shares of CTS opened at C$3.60 on Wednesday. The firm has a market cap of C$702.72 million, a price-to-earnings ratio of -4.58, a PEG ratio of 0.14 and a beta of 1.81. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 99.08. The business’s 50 day moving average is C$4.10 and its two-hundred day moving average is C$4.45. Converge Technology Solutions has a 52-week low of C$2.90 and a 52-week high of C$6.06.

Insider Buying and Selling

In other Converge Technology Solutions news, Senior Officer Greg Berard purchased 10,105 shares of Converge Technology Solutions stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of C$4.42 per share, for a total transaction of C$44,684.31. Corporate insiders own 5.97% of the company’s stock.

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.