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

Shares of Converge Technology Solutions Corp. (TSE:CTS) have been assigned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and three have issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is C$28.83.

CTS has been the subject of a number of research reports. Canaccord Genuity Group boosted their target price on shares of 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. TD Securities upgraded Converge Technology Solutions from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. CIBC raised their target price on Converge Technology Solutions from C$4.00 to C$5.50 in a research report on Monday, February 10th. Scotiabank upped their price target on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a research report on Friday, February 7th. Finally, 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.

Converge Technology Solutions Stock Up 0.2 %

CTS opened at C$5.46 on Friday. The stock has a market capitalization of C$1.03 billion, a price-to-earnings ratio of -6.55, a PEG ratio of 0.14 and a beta of 1.81. The firm has a 50 day moving average price of C$4.90 and a 200-day moving average price of C$4.15. Converge Technology Solutions has a twelve month low of C$2.90 and a twelve month high of C$5.87. The company has a quick ratio of 0.68, a current ratio of 0.96 and a debt-to-equity ratio of 85.78.

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.