Converge Technology Solutions (TSE:CTS) Rating Increased to Strong-Buy at TD Securities

Converge Technology Solutions (TSE:CTS) was upgraded by investment analysts at TD Securities from a “strong sell” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Cormark upgraded shares of Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a research report on Monday, January 13th. Raymond James cut their price objective on Converge Technology Solutions from C$6.50 to C$4.50 in a report on Friday, October 25th. Stifel Nicolaus set a C$4.00 price objective on Converge Technology Solutions and gave the company a “hold” rating in a report on Thursday, January 16th. Scotiabank upped their target price on Converge Technology Solutions from C$4.00 to C$5.50 in a research note on Friday, February 7th. Finally, Stifel Canada raised shares of Converge Technology Solutions to a “strong-buy” rating in a research note on Wednesday, January 15th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$5.73.

Converge Technology Solutions Price Performance

TSE:CTS opened at C$5.40 on Tuesday. Converge Technology Solutions has a 52-week low of C$2.90 and a 52-week high of C$6.06. The stock has a fifty day moving average of C$3.52 and a 200 day moving average of C$3.88. 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 firm has a market capitalization of C$1.05 billion, a price-to-earnings ratio of -6.75, a P/E/G ratio of 0.14 and a beta of 1.81.

Converge Technology Solutions (TSE:CTS) last issued its quarterly earnings results on Tuesday, November 12th. The company reported C$0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.08 by C$0.04. Converge Technology Solutions had a negative return on equity of 33.46% and a negative net margin of 6.10%. During the same quarter in the prior year, the firm posted $0.10 earnings per share. On average, research analysts expect that Converge Technology Solutions will post 0.6884058 EPS for the current fiscal year.

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.