Converge Technology Solutions (TSE:CTS) Upgraded to "Moderate Buy" at Cormark

Converge Technology Solutions (TSE:CTS - Get Free Report) was upgraded by equities research analysts at Cormark from a "hold" rating to a "moderate buy" rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research analysts also recently issued reports on CTS. National Bankshares downgraded Converge Technology Solutions from an "outperform" rating to a "sector perform" rating and decreased their price target for the company from C$6.00 to C$4.50 in a report on Friday, October 25th. TD Securities decreased their target price on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a research note on Wednesday, November 13th. Ventum Financial raised their price target on shares of Converge Technology Solutions from C$5.20 to C$6.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Canaccord Genuity Group cut their price objective on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a report on Friday, October 25th. Finally, CIBC lowered their target price on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research note on Friday, October 25th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$5.93.

Converge Technology Solutions Stock Performance

Shares of TSE:CTS traded up C$0.11 during trading on Monday, hitting C$3.66. The stock had a trading volume of 342,708 shares, compared to its average volume of 498,838. The stock has a 50-day simple moving average of C$3.40 and a two-hundred day simple moving average of C$3.96. The stock has a market capitalization of C$714.43 million, a price-to-earnings ratio of -4.58, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a 12-month low of C$2.90 and a 12-month high of C$6.06. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 99.08.

Converge Technology Solutions Company Profile

Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions in the United States and Canada. Its solutions approach delivers advanced analytics, artificial intelligence, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries.