Converge Technology Solutions (TSE:CTS) Trading Up 0.2% – Time to Buy?

Converge Technology Solutions Corp. (TSE:CTS) was up 0.2% on Friday . The company traded as high as C$5.47 and last traded at C$5.46. Approximately 1,191,973 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 1,431,970 shares. The stock had previously closed at C$5.45.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Stifel Canada raised Converge Technology Solutions to a “strong-buy” rating in a research note on Wednesday, January 15th. TD Securities upgraded shares of Converge Technology Solutions from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. CIBC boosted their target price on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a report on Monday, February 10th. Cormark raised shares of Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a research note on Monday, January 13th. Finally, Stifel Nicolaus set a C$4.00 price target on shares of Converge Technology Solutions and gave the company a “hold” rating in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Converge Technology Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of C$28.83.

Converge Technology Solutions Trading Up 0.2 %

The stock has a market cap of C$1.03 billion, a PE ratio of -6.55, a PEG ratio of 0.14 and a beta of 1.81. The company has a debt-to-equity ratio of 85.78, a quick ratio of 0.68 and a current ratio of 0.96. The stock has a fifty day moving average price of C$4.90 and a 200 day moving average price of C$4.15.

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.