Shares of Converge Technology Solutions Corp. (TSE:CTS - Get Free Report) hit a new 52-week high on Wednesday after Canaccord Genuity Group raised their price target on the stock from C$5.50 to C$6.00. The company traded as high as C$6.05 and last traded at C$6.04, with a volume of 1868616 shares changing hands. The stock had previously closed at C$5.47.
Several other analysts also recently issued reports on CTS. Cormark upgraded Converge Technology Solutions from a "hold" rating to a "moderate buy" rating in a report on Monday, January 13th. TD Securities boosted their price target on Converge Technology Solutions from C$5.50 to C$6.00 and gave the stock a "sell" rating in a research report on Thursday. Stifel Canada raised shares of Converge Technology Solutions to a "strong-buy" rating in a research report on Wednesday, January 15th. Desjardins downgraded shares of Converge Technology Solutions from a "buy" rating to a "tender" rating and upped their target price for the company from C$5.00 to C$5.50 in a research note on Friday, March 7th. Finally, Jefferies Financial Group dropped their price target on shares of Converge Technology Solutions from C$145.00 to C$140.00 and set a "hold" rating on the stock in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of C$16.63.
View Our Latest Research Report on Converge Technology Solutions
Converge Technology Solutions Stock Down 0.5 %
The company has a debt-to-equity ratio of 85.78, a quick ratio of 0.68 and a current ratio of 0.96. The stock's fifty day simple moving average is C$5.12 and its two-hundred day simple moving average is C$4.19. The company has a market capitalization of C$1.12 billion, a price-to-earnings ratio of -7.11, a P/E/G ratio of 0.14 and a beta of 1.81.
Converge Technology Solutions Company Profile
(
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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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