Converge Technology Solutions Corp. (TSE:CTS) Receives C$16.63 Consensus Price Target from Brokerages

Converge Technology Solutions Corp. (TSE:CTS - Get Free Report) has been given an average recommendation of "Hold" by the nine brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is C$16.63.

Several equities research analysts have recently commented on the stock. Ventum Financial cut shares of Converge Technology Solutions from a "buy" rating to a "tender" rating and dropped their target price for the stock from C$6.00 to C$5.50 in a research report on Monday, February 10th. Stifel Nicolaus set a C$4.00 price objective on Converge Technology Solutions and gave the company a "hold" rating in a research report on Thursday, January 16th. Stifel Canada upgraded Converge Technology Solutions to a "strong-buy" rating in a research note on Wednesday, January 15th. Desjardins cut Converge Technology Solutions from a "buy" rating to a "tender" rating and upped their price target for the stock from C$5.00 to C$5.50 in a research note on Friday, March 7th. Finally, Scotiabank upped their target price on shares of Converge Technology Solutions from C$5.50 to C$6.00 in a research report on Wednesday, April 2nd.

Converge Technology Solutions Stock Performance

The company has a quick ratio of 0.68, a current ratio of 0.96 and a debt-to-equity ratio of 85.78. The stock has a market capitalization of C$1.13 billion, a PE ratio of -7.18, a PEG ratio of 0.14 and a beta of 1.81. The company's 50-day simple moving average is C$5.66 and its 200 day simple moving average is C$4.38. Converge Technology Solutions has a 12 month low of C$2.90 and a 12 month high of C$6.06.

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.