Cormark Upgrades Converge Technology Solutions (TSE:CTS) to Moderate Buy

Converge Technology Solutions (TSE:CTS) was upgraded by investment analysts at Cormark from a “hold” rating to a “moderate buy” rating in a report released on Monday,Zacks.com reports.

CTS has been the subject of several other reports. Ventum Financial lifted their price target on shares of Converge Technology Solutions from C$5.20 to C$6.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Scotiabank downgraded shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. National Bankshares cut Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from C$6.00 to C$4.50 in a research report on Friday, October 25th. CIBC reduced their price objective on Converge Technology Solutions from C$5.00 to C$4.00 in a research report on Friday, October 25th. Finally, TD Securities lowered their price objective on Converge Technology Solutions from C$5.00 to C$4.50 in a research note on Wednesday, November 13th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$5.93.

Converge Technology Solutions Price Performance

CTS opened at C$3.55 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 99.08. The company has a market cap of C$692.96 million, a price-to-earnings ratio of -4.44, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. The stock has a fifty day simple moving average of C$3.40 and a two-hundred day simple moving average of C$3.96. 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. 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.