Converge Technology Solutions Corp. (TSE:CTS) Receives Average Rating of “Hold” from Analysts

Converge Technology Solutions Corp. (TSE:CTS) has been given an average rating of “Hold” by the nine research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is C$16.63.

Several research analysts have recently weighed in on the stock. Cormark raised shares of Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a report on Monday, January 13th. Stifel Nicolaus set a C$4.00 target price on shares of Converge Technology Solutions and gave the company a “hold” rating in a research note on Thursday, January 16th. TD Securities increased their price target on Converge Technology Solutions from C$5.50 to C$6.00 and gave the company a “sell” rating in a report on Thursday. Ventum Financial lowered Converge Technology Solutions from a “buy” rating to a “tender” rating and cut their price objective for the stock from C$6.00 to C$5.50 in a report on Monday, February 10th. Finally, Scotiabank increased their target price on Converge Technology Solutions from C$5.50 to C$6.00 in a report on Wednesday.

Converge Technology Solutions Stock Down 1.2 %

TSE:CTS opened at C$5.96 on Friday. The company has a debt-to-equity ratio of 85.78, a quick ratio of 0.68 and a current ratio of 0.96. The firm has a market cap of C$1.12 billion, a P/E ratio of -7.15, a P/E/G ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a fifty-two week low of C$2.90 and a fifty-two week high of C$6.06. The firm has a 50-day simple moving average of C$5.12 and a two-hundred day simple moving average of C$4.20.

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.