Converge Technology Solutions Corp. (CTS.V) (CVE:CTS) Given Consensus Rating of “Buy” by Brokerages

Shares of Converge Technology Solutions Corp. (CTS.V) (CVE:CTS – Get Rating) have earned a consensus rating of “Buy” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is C$13.14.

CTS has been the subject of several research analyst reports. CIBC cut their price objective on Converge Technology Solutions Corp. (CTS.V) from C$12.50 to C$11.00 in a research report on Monday, January 31st. Scotiabank lifted their price objective on Converge Technology Solutions Corp. (CTS.V) from C$13.00 to C$14.00 in a research report on Tuesday, January 11th. Desjardins lifted their price objective on Converge Technology Solutions Corp. (CTS.V) to C$14.25 in a research report on Tuesday, January 11th. Raymond James set a C$12.50 price objective on Converge Technology Solutions Corp. (CTS.V) and gave the company an “outperform” rating in a research report on Tuesday, March 29th. Finally, TD Securities cut their price objective on Converge Technology Solutions Corp. (CTS.V) from C$13.00 to C$12.00 and set a “hold” rating for the company in a research report on Thursday, March 24th.

Shares of CTS opened at C$6.45 on Wednesday. The company has a fifty day simple moving average of C$6.45. The company has a current ratio of 0.73, a quick ratio of 0.62 and a debt-to-equity ratio of 272.49. Converge Technology Solutions Corp. has a 52-week low of C$0.75 and a 52-week high of C$6.80. The company has a market cap of C$1.00 billion and a P/E ratio of -165.38.

About Converge Technology Solutions Corp. (CTS.V) (Get Rating)

Converge Technology Solutions Corp., through its subsidiaries, distributes storage devices and systems, computer products, software, and peripherals. The company also provides 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, cloud optimization, and data center infrastructure.

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