Echelon Wealth Partners Reaffirms Buy Rating for Converge Technology Solutions (TSE:CTS)

Echelon Wealth Partners reaffirmed their buy rating on shares of Converge Technology Solutions (TSE:CTSGet Rating) in a report published on Thursday morning, Marketbeat.com reports. The brokerage currently has a C$14.50 price objective on the stock.

Several other analysts have also recently issued reports on CTS. Desjardins reissued a buy rating on shares of Converge Technology Solutions in a research report on Wednesday, March 23rd. TD Securities assumed coverage on shares of Converge Technology Solutions in a report on Tuesday, December 14th. They issued a hold rating and a C$13.00 target price on the stock. Finally, Raymond James reaffirmed an outperform rating and issued a C$12.50 target price on shares of Converge Technology Solutions in a report on Friday, February 18th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Buy and an average target price of C$13.50.

Shares of CTS opened at C$9.18 on Thursday. The stock has a market capitalization of C$1.95 billion and a PE ratio of 114.75. Converge Technology Solutions has a 1 year low of C$5.16 and a 1 year high of C$13.09. The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.12 and a current ratio of 1.32. The company’s 50-day simple moving average is C$10.00 and its 200-day simple moving average is C$10.47.

About Converge Technology Solutions (Get Rating)

Converge Technology Solutions Corp., through its subsidiaries, distributes storage devices and systems, computer products, software, and peripherals. The company also provides installation and maintenance; analytics, hybrid cloud, infrastructure, and cybersecurity services; cloud delivery, compute efficiency, network optimization, and IT spend optimization solutions; and IT professional services, such as data center infrastructure integration and solutioning, and cloud optimization.

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