Converge Technology Solutions (TSE:CTS) Stock Rating Upgraded by Stifel Canada

Converge Technology Solutions (TSE:CTS) was upgraded by analysts at Stifel Canada to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Several other research analysts have also weighed in on CTS. Ventum Financial boosted their price target on Converge Technology Solutions from C$5.20 to C$6.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Scotiabank lowered shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Raymond James decreased their price objective on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a research report on Friday, October 25th. Cormark raised shares of Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a report on Monday. Finally, CIBC cut their target price on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$5.77.

Converge Technology Solutions Price Performance

TSE:CTS opened at C$3.55 on Wednesday. Converge Technology Solutions has a 52-week low of C$2.90 and a 52-week high of C$6.06. The company has a market cap of C$692.96 million, a P/E ratio of -4.44, a P/E/G ratio of 0.14 and a beta of 1.81. The company has a debt-to-equity ratio of 99.08, a quick ratio of 0.68 and a current ratio of 1.00. The stock’s 50-day simple moving average is C$3.42 and its 200 day simple moving average is C$3.95.

About Converge Technology Solutions

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.