Jefferies Financial Group Cuts Converge Technology Solutions (TSE:CTS) Price Target to C$140.00

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

Several other analysts also recently weighed in on CTS. Ventum Financial downgraded shares of Converge Technology Solutions from a “buy” rating to a “tender” rating and dropped their target price for the company from C$6.00 to C$5.50 in a report on Monday, February 10th. Cormark upgraded Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a report on Monday, January 13th. Canaccord Genuity Group cut Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a report on Monday, February 10th. Desjardins lowered shares of Converge Technology Solutions from a “buy” rating to a “tender” rating and boosted their price target for the stock from C$5.00 to C$5.50 in a research note on Friday. Finally, TD Securities raised shares of Converge Technology Solutions from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Eight analysts have rated the stock with a hold rating, two have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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 mid-day trading on Friday. 942,179 shares of the company’s stock traded hands, compared to its average volume of 1,599,614. Converge Technology Solutions has a one year low of C$2.90 and a one year high of C$6.06. The stock has a market capitalization of C$1.03 billion, a price-to-earnings ratio of -6.54, a P/E/G ratio of 0.14 and a beta of 1.81. The firm’s 50-day simple moving average is C$4.28 and its two-hundred day simple moving average is C$4.04. The company has a quick ratio of 0.68, a current ratio of 0.96 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.