Converge Technology Solutions Corp. (TSE:CTS) Given Consensus Recommendation of “Moderate Buy” by Analysts

Converge Technology Solutions Corp. (TSE:CTS) has received an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is C$28.83.

A number of research firms have recently commented on CTS. Stifel Nicolaus set a C$4.00 target price on Converge Technology Solutions and gave the company a “hold” rating in a research note on Thursday, January 16th. Canaccord Genuity Group raised their price objective on Converge Technology Solutions from C$153.00 to C$154.00 and gave the company a “hold” rating in a research report on Friday, March 7th. Jefferies Financial Group reduced their target price 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 report on Friday, March 7th. TD Securities raised shares of Converge Technology Solutions from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Finally, Cormark upgraded shares of Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a report on Monday, January 13th.

Converge Technology Solutions Stock Performance

Shares of CTS opened at C$5.46 on Friday. The company has a 50-day simple moving average of C$4.90 and a two-hundred day simple moving average of C$4.15. The company has a debt-to-equity ratio of 85.78, a current ratio of 0.96 and a quick ratio of 0.68. The firm has a market capitalization of C$1.03 billion, a PE ratio of -6.55, a price-to-earnings-growth 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$5.87.

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.