Converge Technology Solutions (TSE:CTS) Price Target Cut to C$140.00 by Analysts at Jefferies Financial Group

Converge Technology Solutions (TSE:CTS - Get Free Report) had its price objective dropped by stock analysts at Jefferies Financial Group from C$145.00 to C$140.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock.

A number of other research analysts have also recently weighed in on the stock. CIBC lifted their price objective on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a report on Monday, February 10th. Canaccord Genuity Group lowered Converge Technology Solutions from a "moderate buy" rating to a "hold" rating in a research note on Monday, February 10th. Cormark raised Converge Technology Solutions from a "hold" rating to a "moderate buy" rating in a report on Monday, January 13th. Desjardins downgraded Converge Technology Solutions from a "buy" rating to a "tender" rating and upped their target price for the stock from C$5.00 to C$5.50 in a research note on Friday. Finally, Stifel Nicolaus set a C$4.00 price target on shares of Converge Technology Solutions and gave the company a "hold" rating in a research note on Thursday, January 16th. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of C$25.80.

Converge Technology Solutions Price Performance

CTS stock remained flat at C$5.45 during trading on Friday. The company had a trading volume of 942,179 shares, compared to its average volume of 1,599,614. Converge Technology Solutions has a 52 week low of C$2.90 and a 52 week high of C$6.06. The firm has a market capitalization of C$1.03 billion, a P/E ratio of -6.54, a PEG ratio of 0.14 and a beta of 1.81. The stock's 50-day moving average is C$4.28 and its 200-day moving average is C$4.04. The company has a current ratio of 0.96, a quick ratio of 0.68 and a debt-to-equity ratio of 85.78.

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.

Remove Ads

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.