Converge Technology Solutions (TSE:CTS) Price Target Cut to C$140.00 by Analysts at Jefferies Financial Group

Converge Technology Solutions (TSE:CTS) had its price objective dropped by stock analysts at Jefferies Financial Group from C$145.00 to C$140.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock.

A number of other research analysts have also recently weighed in on the stock. CIBC lifted their price objective on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a report on Monday, February 10th. Canaccord Genuity Group lowered Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research note on Monday, February 10th. Cormark raised Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a report on Monday, January 13th. Desjardins downgraded Converge Technology Solutions from a “buy” rating to a “tender” rating and upped their target price for the stock from C$5.00 to C$5.50 in a research note on Friday. Finally, Stifel Nicolaus set a C$4.00 price target on shares of Converge Technology Solutions and gave the company a “hold” rating in a research note on Thursday, January 16th. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$25.80.

Converge Technology Solutions Price Performance

CTS stock remained flat at C$5.45 during trading on Friday. The company had a trading volume of 942,179 shares, compared to its average volume of 1,599,614. Converge Technology Solutions has a 52 week low of C$2.90 and a 52 week high of C$6.06. The firm has a market capitalization of C$1.03 billion, a P/E ratio of -6.54, a PEG ratio of 0.14 and a beta of 1.81. The stock’s 50-day moving average is C$4.28 and its 200-day moving average is C$4.04. The company has a current ratio of 0.96, a quick ratio of 0.68 and a debt-to-equity ratio of 85.78.

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.