Converge Technology Solutions (TSE:CTS) Price Target Raised to C$6.00 at Canaccord Genuity Group

Converge Technology Solutions (TSE:CTS) had its price target raised by investment analysts at Canaccord Genuity Group from C$5.50 to C$6.00 in a report issued on Thursday,BayStreet.CA reports. Canaccord Genuity Group’s target price would suggest a potential downside of 0.50% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Scotiabank upped their price objective on Converge Technology Solutions from C$5.50 to C$6.00 in a research note on Wednesday. TD Securities increased their price target on shares of Converge Technology Solutions from C$5.50 to C$6.00 and gave the company a “sell” rating in a research report on Thursday. Desjardins lowered shares of Converge Technology Solutions from a “buy” rating to a “tender” rating and lifted their price objective for the stock from C$5.00 to C$5.50 in a research report on Friday, March 7th. Ventum Financial downgraded shares of Converge Technology Solutions from a “buy” rating to a “tender” rating and reduced their target price for the company from C$6.00 to C$5.50 in a research report on Monday, February 10th. Finally, Jefferies Financial Group lowered 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 report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$16.63.

Converge Technology Solutions Stock Down 0.3 %

TSE:CTS traded down C$0.02 on Thursday, hitting C$6.03. The stock had a trading volume of 1,483,287 shares, compared to its average volume of 1,554,349. The stock has a market cap of C$1.14 billion, a P/E ratio of -7.23, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. 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 firm’s fifty day simple moving average is C$5.03 and its two-hundred day simple moving average is C$4.17. Converge Technology Solutions has a 1 year low of C$2.90 and a 1 year high of C$6.06.

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.