Converge Technology Solutions Corp. (TSE:CTS) Receives Consensus Rating of “Moderate Buy” from Analysts
Shares of Converge Technology Solutions Corp. (TSE:CTS - Get Rating) have earned a consensus recommendation of "Moderate Buy" from the fourteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is C$9.83.
A number of research analysts have recently commented on CTS shares. Scotiabank reduced their target price on shares of Converge Technology Solutions from C$11.00 to C$10.00 in a research report on Friday. Raymond James cut their price target on shares of Converge Technology Solutions from C$9.50 to C$8.50 in a report on Friday, October 28th. TD Securities raised shares of Converge Technology Solutions from a "hold" rating to a "buy" rating and cut their price target for the company from C$8.50 to C$6.50 in a report on Thursday. CIBC cut their price target on shares of Converge Technology Solutions from C$8.00 to C$7.00 and set a "neutral" rating on the stock in a report on Thursday. Finally, National Bankshares cut their price target on shares of Converge Technology Solutions from C$12.00 to C$10.00 and set an "outperform" rating on the stock in a report on Tuesday, November 1st.
Converge Technology Solutions Trading Up 13.9 %
TSE CTS opened at C$4.67 on Friday. The company's fifty day simple moving average is C$5.95 and its 200-day simple moving average is C$6.16. Converge Technology Solutions has a 52 week low of C$3.95 and a 52 week high of C$12.65. The company has a current ratio of 0.84, a quick ratio of 0.68 and a debt-to-equity ratio of 63.41. The stock has a market cap of C$982.18 million and a P/E ratio of 42.45.
About Converge Technology Solutions
Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions for corporate and government institutions in the United States and Canada. Its solutions approach delivers advanced analytics, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries.
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