Converge Technology Solutions (TSE:CTS – Get Rating) had its price target lowered by TD Securities from C$12.00 to C$8.50 in a research note issued to investors on Thursday morning, BayStreet.CA reports. The firm currently has a hold rating on the stock.
CTS has been the subject of a number of other research reports. Desjardins reiterated a buy rating on shares of Converge Technology Solutions in a research report on Wednesday, March 23rd. National Bank Financial restated an outperfrom under weight rating on shares of Converge Technology Solutions in a research note on Tuesday, April 26th. National Bankshares set a C$14.00 price target on shares of Converge Technology Solutions and gave the stock an outperform rating in a research note on Wednesday, April 27th. CIBC dropped their price target on shares of Converge Technology Solutions from C$12.50 to C$11.00 in a research note on Monday, January 31st. Finally, Raymond James set a C$12.50 price target on shares of Converge Technology Solutions and gave the stock an outperform rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of C$13.06.
CTS stock opened at C$6.15 on Thursday. Converge Technology Solutions has a 12-month low of C$5.88 and a 12-month high of C$13.09. The company has a quick ratio of 1.12, a current ratio of 1.32 and a debt-to-equity ratio of 2.93. The company has a market cap of C$1.32 billion and a price-to-earnings ratio of 76.88. The company has a 50 day moving average of C$7.96 and a two-hundred day moving average of C$8.13.
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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