Converge Technology Solutions (TSE:CTS - Get Free Report) had its price objective lowered by Cormark from C$7.00 to C$6.50 in a report issued on Friday, BayStreet.CA reports. Cormark's price target suggests a potential upside of 28.46% from the stock's current price.
CTS has been the subject of several other research reports. Eight Capital boosted their target price on Converge Technology Solutions from C$7.00 to C$9.00 and gave the company a "buy" rating in a research report on Thursday, March 7th. Desjardins lifted their price objective on shares of Converge Technology Solutions from C$6.00 to C$7.00 and gave the company a "buy" rating in a report on Thursday, March 7th. Raymond James raised their target price on shares of Converge Technology Solutions from C$5.50 to C$6.50 and gave the stock an "outperform" rating in a research report on Thursday, March 7th. Echelon Wealth Partners raised their price objective on Converge Technology Solutions from C$5.80 to C$6.25 and gave the stock a "sector perform" rating in a report on Thursday, March 7th. Finally, Scotiabank increased their price target on Converge Technology Solutions from C$7.00 to C$8.00 in a research report on Thursday, March 14th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of C$6.63.
View Our Latest Report on CTS
Converge Technology Solutions Trading Down 0.2 %
Shares of TSE:CTS traded down C$0.01 during trading on Friday, reaching C$5.06. The company's stock had a trading volume of 722,952 shares, compared to its average volume of 510,535. Converge Technology Solutions has a 12 month low of C$2.24 and a 12 month high of C$6.06. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 71.05. The firm's 50 day simple moving average is C$5.54 and its two-hundred day simple moving average is C$4.54. The stock has a market capitalization of C$1.03 billion, a PE ratio of -509.00, a price-to-earnings-growth ratio of 0.14 and a beta of 1.91.
Converge Technology Solutions (TSE:CTS - Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported C$0.11 EPS for the quarter, hitting the consensus estimate of C$0.11. Converge Technology Solutions had a negative net margin of 0.05% and a negative return on equity of 1.03%. The company had revenue of C$628.77 million during the quarter, compared to analyst estimates of C$661.10 million. On average, research analysts predict that Converge Technology Solutions will post 0.599777 EPS for the current fiscal year.
Insider Activity
In other news, Senior Officer Greg Berard purchased 8,775 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were purchased at an average cost of C$5.80 per share, with a total value of C$50,895.00. Insiders have acquired 11,590 shares of company stock valued at $66,944 in the last ninety days. Insiders own 5.83% of the company's stock.
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.
See Also
Before you consider Converge Technology Solutions, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Converge Technology Solutions wasn't on the list.
While Converge Technology Solutions currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
