TD Securities Lowers Converge Technology Solutions (TSE:CTS) Price Target to C$4.50

Converge Technology Solutions (TSE:CTSGet Free Report) had its price target reduced by TD Securities from C$5.00 to C$4.50 in a research report issued on Wednesday,BayStreet.CA reports. TD Securities’ price objective indicates a potential upside of 20.32% from the company’s previous close.

Several other brokerages have also issued reports on CTS. Cormark lowered shares of Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research note on Friday, October 25th. Canaccord Genuity Group reduced their target price on Converge Technology Solutions from C$6.25 to C$6.00 in a research note on Friday, October 25th. CIBC decreased their target price on Converge Technology Solutions from C$5.00 to C$4.00 in a research report on Friday, October 25th. Scotiabank lowered Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, National Bankshares downgraded Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from C$6.00 to C$4.50 in a report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Converge Technology Solutions currently has a consensus rating of “Moderate Buy” and an average target price of C$5.86.

Read Our Latest Stock Analysis on Converge Technology Solutions

Converge Technology Solutions Stock Performance

TSE CTS remained flat at C$3.74 during trading hours on Wednesday. The company had a trading volume of 662,961 shares, compared to its average volume of 541,440. The stock has a market cap of C$730.05 million, a price-to-earnings ratio of -4.68, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. The firm has a fifty day moving average of C$4.12 and a 200-day moving average of C$4.46. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 99.08. Converge Technology Solutions has a fifty-two week low of C$2.90 and a fifty-two week high of C$6.06.

Insider Buying and Selling

In other news, Senior Officer Greg Berard purchased 10,105 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of C$4.42 per share, for a total transaction of C$44,684.31. 5.97% of the stock is currently owned by insiders.

About Converge Technology Solutions

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Converge Technology Solutions (TSE:CTS)

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