Converge Technology Solutions (TSE:CTS) Price Target Raised to C$6.00

Converge Technology Solutions (TSE:CTS) had its target price boosted by research analysts at TD Securities from C$5.50 to C$6.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a “sell” rating on the stock. TD Securities’ price target suggests a potential downside of 0.50% from the stock’s previous close.

CTS has been the subject of a number of other research reports. Stifel Canada raised Converge Technology Solutions to a “strong-buy” rating in a report on Wednesday, January 15th. Jefferies Financial Group decreased 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. Stifel Nicolaus set a C$4.00 price objective on shares of Converge Technology Solutions and gave the company a “hold” rating in a report on Thursday, January 16th. Cormark upgraded Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a report on Monday, January 13th. Finally, Desjardins lowered Converge Technology Solutions from a “buy” rating to a “tender” rating and lifted their price target for the stock from C$5.00 to C$5.50 in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$16.63.

Converge Technology Solutions Price Performance

Shares of Converge Technology Solutions stock traded down C$0.02 on Thursday, reaching C$6.03. The company’s stock had a trading volume of 1,483,287 shares, compared to its average volume of 1,554,349. The stock has a 50-day moving average price of C$5.03 and a 200-day moving average price of C$4.17. 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 capitalization of C$1.14 billion, a P/E ratio of -7.23, a PEG 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.

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.