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

Converge Technology Solutions (TSE:CTS) had its price target upped by TD Securities from C$5.50 to C$6.00 in a report issued on Thursday,BayStreet.CA reports. TD Securities currently has a sell rating on the stock.

Several other equities analysts have also commented on CTS. Ventum Financial lowered shares of Converge Technology Solutions from a “buy” rating to a “tender” rating and dropped their price target for the company from C$6.00 to C$5.50 in a research note on Monday, February 10th. Desjardins downgraded shares of Converge Technology Solutions from a “buy” rating to a “tender” rating and increased their target price for the company from C$5.00 to C$5.50 in a research report on Friday, March 7th. Scotiabank boosted their price target on shares of Converge Technology Solutions from C$5.50 to C$6.00 in a research report on Wednesday. Cormark upgraded shares of Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a research note on Monday, January 13th. Finally, Stifel Canada upgraded Converge Technology Solutions to a “strong-buy” rating in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$16.63.

Converge Technology Solutions Trading Down 1.2 %

TSE:CTS opened at C$5.96 on Thursday. The company has a debt-to-equity ratio of 85.78, a quick ratio of 0.68 and a current ratio of 0.96. Converge Technology Solutions has a 1 year low of C$2.90 and a 1 year high of C$6.06. The stock has a market cap of C$1.12 billion, a P/E ratio of -7.15, a P/E/G ratio of 0.14 and a beta of 1.81. The stock has a 50-day simple moving average of C$5.12 and a 200-day simple moving average of C$4.20.

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.