Converge Technology Solutions Corp. (TSE:CTS) Receives C$16.63 Average PT from Analysts

Shares of Converge Technology Solutions Corp. (TSE:CTS) have been given a consensus recommendation of “Hold” by the nine analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$16.63.

Several equities research analysts recently weighed in on CTS shares. TD Securities increased their price target on Converge Technology Solutions from C$5.50 to C$6.00 and gave the stock a “sell” rating in a report on Thursday, April 3rd. Canaccord Genuity Group raised their target price on shares of Converge Technology Solutions from C$5.50 to C$6.00 in a research note on Thursday, April 3rd. Jefferies Financial Group dropped their price target on shares of Converge Technology Solutions from C$145.00 to C$140.00 and set a “hold” rating on the stock in a research note on Friday, March 7th. Desjardins downgraded shares of Converge Technology Solutions from a “buy” rating to a “tender” rating and raised their price objective for the company from C$5.00 to C$5.50 in a research report on Friday, March 7th. Finally, CIBC lifted their price objective on Converge Technology Solutions from C$5.50 to C$6.00 in a report on Thursday, April 3rd.

Converge Technology Solutions Stock Performance

The stock has a market cap of C$1.13 billion, a P/E ratio of -7.18, a P/E/G ratio of 0.14 and a beta of 1.81. The company has a quick ratio of 0.68, a current ratio of 0.96 and a debt-to-equity ratio of 85.78. The company has a fifty day moving average of C$5.66 and a 200 day moving average of C$4.38. Converge Technology Solutions has a 12 month low of C$2.90 and a 12 month high of C$6.06.

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.