Converge Technology Solutions (TSE:CTS) Upgraded by Stifel Canada to Strong-Buy Rating

Converge Technology Solutions (TSE:CTS) was upgraded by equities research analysts at Stifel Canada to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

CTS has been the subject of several other research reports. CIBC cut their price objective on Converge Technology Solutions from C$5.00 to C$4.00 in a report on Friday, October 25th. Scotiabank downgraded shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Ventum Financial raised their price objective on shares of Converge Technology Solutions from C$5.20 to C$6.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Canaccord Genuity Group dropped their target price on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a report on Friday, October 25th. Finally, TD Securities reduced their target price on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a report on Wednesday, November 13th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$5.77.

Converge Technology Solutions Stock Performance

CTS opened at C$3.55 on Wednesday. The business has a 50 day moving average price of C$3.42 and a two-hundred day moving average price of C$3.95. The company has a debt-to-equity ratio of 99.08, a current ratio of 1.00 and a quick ratio of 0.68. The company has a market capitalization of C$692.96 million, a price-to-earnings ratio of -4.44, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. 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. provides software-enabled IT and cloud solutions in the United States and Canada. Its solutions approach delivers advanced analytics, artificial intelligence, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries.