Converge Technology Solutions (TSE:CTS) Rating Increased to Strong-Buy at TD Securities

Converge Technology Solutions (TSE:CTS - Get Free Report) was upgraded by stock analysts at TD Securities from a "strong sell" rating to a "strong-buy" rating in a research report issued on Tuesday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Cormark raised Converge Technology Solutions from a "hold" rating to a "moderate buy" rating in a research report on Monday, January 13th. CIBC boosted their price target on Converge Technology Solutions from C$4.00 to C$5.50 in a research report on Monday, February 10th. National Bankshares cut Converge Technology Solutions from an "outperform" rating to a "sector perform" rating and dropped their price target for the stock from C$6.00 to C$4.50 in a research report on Friday, October 25th. Canaccord Genuity Group dropped their price target on Converge Technology Solutions from C$6.25 to C$6.00 in a research report on Friday, October 25th. Finally, National Bank Financial cut Converge Technology Solutions from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of C$5.73.

Converge Technology Solutions Stock Up 0.2 %

Converge Technology Solutions stock traded up C$0.01 during trading hours on Tuesday, hitting C$5.43. 1,297,503 shares of the stock traded hands, compared to its average volume of 1,422,368. The firm's 50-day moving average price is C$3.69 and its two-hundred day moving average price is C$3.92. The company has a current ratio of 0.96, a quick ratio of 0.68 and a debt-to-equity ratio of 85.78. The company has a market cap of C$1.02 billion, a PE ratio of -6.51, a PEG ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a one year low of C$2.90 and a one year high of C$6.06.

Converge Technology Solutions (TSE:CTS - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported C$0.12 earnings per share for the quarter, beating the consensus estimate of C$0.08 by C$0.04. Converge Technology Solutions had a negative return on equity of 34.40% and a negative net margin of 6.35%. During the same quarter in the previous year, the business posted $0.10 EPS. On average, research analysts forecast that Converge Technology Solutions will post 0.6884058 EPS for the current year.

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.