Converge Technology Solutions (TSE:CTS - Get Free Report) had its target price upped by research analysts at CIBC from C$5.50 to C$6.00 in a note issued to investors on Thursday,BayStreet.CA reports. CIBC's price objective points to a potential upside of 0.84% from the stock's previous close.
CTS has been the subject of a number of other research reports. Stifel Canada upgraded Converge Technology Solutions to a "strong-buy" rating in a report on Wednesday, January 15th. Cormark raised shares of Converge Technology Solutions from a "hold" rating to a "moderate buy" rating in a research report on Monday, January 13th. Scotiabank upped their target price on Converge Technology Solutions from C$5.50 to C$6.00 in a report on Wednesday, April 2nd. Ventum Financial cut shares of Converge Technology Solutions from a "buy" rating to a "tender" rating and lowered their price target for the company from C$6.00 to C$5.50 in a research report on Monday, February 10th. Finally, Desjardins cut shares of Converge Technology Solutions from a "buy" rating to a "tender" rating and upped their price objective for the stock from C$5.00 to C$5.50 in a report on Friday, March 7th. 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 company. According to data from MarketBeat.com, Converge Technology Solutions currently has an average rating of "Hold" and an average target price of C$16.63.
Read Our Latest Stock Report on CTS
Converge Technology Solutions Price Performance
Shares of Converge Technology Solutions stock remained flat at C$5.95 during trading on Thursday. 1,791,051 shares of the stock were exchanged, compared to its average volume of 1,606,039. The company has a market cap of C$1.12 billion, a P/E ratio of -7.14, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. The firm has a 50-day simple moving average of C$5.17 and a 200-day simple moving average of C$4.21. 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.
About Converge Technology Solutions
(
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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.
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