Converge Technology Solutions Corp. (TSE:CTS) Given Average Recommendation of “Hold” by Analysts

Converge Technology Solutions Corp. (TSE:CTS) has earned an average recommendation of “Hold” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$16.63.

CTS has been the topic of a number of research analyst reports. TD Securities boosted their price target on Converge Technology Solutions from C$5.50 to C$6.00 and gave the stock a “sell” rating in a report on Thursday, April 3rd. Canaccord Genuity Group boosted their price target on Converge Technology Solutions from C$5.50 to C$6.00 in a report on Thursday, April 3rd. Jefferies Financial Group lowered their price target on Converge Technology Solutions from C$145.00 to C$140.00 and set a “hold” rating on the stock in a report on Friday, March 7th. CIBC boosted their price target on Converge Technology Solutions from C$5.50 to C$6.00 in a report on Thursday, April 3rd. Finally, Desjardins cut Converge Technology Solutions from a “buy” rating to a “tender” rating and boosted their price target for the stock from C$5.00 to C$5.50 in a report on Friday, March 7th.

Converge Technology Solutions Price Performance

The company’s fifty day moving average is C$5.66 and its 200-day moving average is C$4.38. 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 12-month low of C$2.90 and a 12-month high of C$6.06. The stock has a market cap of C$1.13 billion, a PE ratio of -7.18, a P/E/G ratio of 0.14 and a beta of 1.81.

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.