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

Converge Technology Solutions (TSE:CTS) had its price target raised by analysts at Canaccord Genuity Group from C$5.50 to C$6.00 in a research report issued on Thursday,BayStreet.CA reports. Canaccord Genuity Group’s price objective indicates a potential downside of 0.50% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Ventum Financial downgraded shares of Converge Technology Solutions from a “buy” rating to a “tender” rating and reduced their price target for the company from C$6.00 to C$5.50 in a research note on Monday, February 10th. TD Securities boosted their price objective on Converge Technology Solutions from C$5.50 to C$6.00 and gave the stock a “sell” rating in a research report on Thursday. Stifel Canada upgraded shares of Converge Technology Solutions to a “strong-buy” rating in a report on Wednesday, January 15th. Stifel Nicolaus set a C$4.00 price objective on Converge Technology Solutions and gave the stock a “hold” rating in a research note on Thursday, January 16th. Finally, Scotiabank upped their price target on shares of Converge Technology Solutions from C$5.50 to C$6.00 in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of C$16.63.

Converge Technology Solutions Price Performance

Shares of TSE CTS traded down C$0.02 during trading hours on Thursday, hitting C$6.03. 1,483,287 shares of the stock were exchanged, compared to its average volume of 1,554,349. Converge Technology Solutions has a 1-year low of C$2.90 and a 1-year high of C$6.06. The company has a market cap of C$1.14 billion, a PE ratio of -7.23, a price-to-earnings-growth 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 company’s fifty day simple moving average is C$5.03 and its two-hundred day simple moving average is C$4.17.

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.