Converge Technology Solutions Corp. (TSE:CTS) Receives C$5.73 Consensus PT from Brokerages

Shares of Converge Technology Solutions Corp. (TSE:CTS) have received an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and three have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$28.83.

A number of analysts recently commented on CTS shares. Cormark upgraded Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a research report on Monday, January 13th. Stifel Canada raised shares of Converge Technology Solutions to a “strong-buy” rating in a research report on Wednesday, January 15th. Ventum Financial downgraded shares of Converge Technology Solutions from a “buy” rating to a “tender” rating and dropped their price objective for the stock from C$6.00 to C$5.50 in a report on Monday, February 10th. Scotiabank boosted their target price on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a research report on Friday, February 7th. Finally, CIBC increased their price target on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a research report on Monday, February 10th.

Converge Technology Solutions Price Performance

Shares of CTS opened at C$5.43 on Wednesday. The firm has a fifty day simple moving average of C$4.41 and a two-hundred day simple moving average of C$4.06. The firm has a market cap of C$1.02 billion, a PE ratio of -6.51, a P/E/G ratio of 0.14 and a beta of 1.81. The company has a current ratio of 0.96, a quick ratio of 0.68 and a debt-to-equity ratio of 85.78. Converge Technology Solutions has a 1-year low of C$2.90 and a 1-year high of C$6.06.

About Converge Technology Solutions

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.