Converge Technology Solutions (TSE:CTS – Get Free Report) had its price target cut by research analysts at Cormark from C$7.00 to C$6.50 in a report issued on Friday, BayStreet.CA reports. Cormark’s price target would indicate a potential upside of 28.46% from the company’s previous close.
CTS has been the subject of several other research reports. CIBC boosted their price objective on Converge Technology Solutions from C$4.50 to C$5.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Desjardins boosted their price target on shares of Converge Technology Solutions from C$6.00 to C$7.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Echelon Wealth Partners raised their price objective on shares of Converge Technology Solutions from C$5.80 to C$6.25 and gave the company a “sector perform” rating in a research note on Thursday, March 7th. Scotiabank lifted their price objective on shares of Converge Technology Solutions from C$7.00 to C$8.00 in a report on Thursday, March 14th. Finally, TD Securities upped their target price on shares of Converge Technology Solutions from C$4.25 to C$6.00 and gave the stock a “hold” rating in a report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$6.63.
Converge Technology Solutions Trading Down 0.2 %
TSE:CTS opened at C$5.06 on Friday. The firm has a fifty day simple moving average of C$5.54 and a two-hundred day simple moving average of C$4.56. Converge Technology Solutions has a 12 month low of C$2.24 and a 12 month high of C$6.06. The stock has a market capitalization of C$1.03 billion, a price-to-earnings ratio of -506.00, a PEG ratio of 0.14 and a beta of 1.91. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 71.05.
Converge Technology Solutions (TSE:CTS – Get Free Report) last issued its earnings results on Thursday, May 9th. The company reported C$0.11 EPS for the quarter, meeting the consensus estimate of C$0.11. Converge Technology Solutions had a negative return on equity of 1.03% and a negative net margin of 0.05%. The company had revenue of C$628.77 million during the quarter, compared to the consensus estimate of C$661.10 million. Analysts expect that Converge Technology Solutions will post 0.599777 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, Senior Officer Greg Berard bought 8,775 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were purchased at an average price of C$5.80 per share, with a total value of C$50,895.00. In the last ninety days, insiders bought 11,590 shares of company stock valued at $66,944. Corporate insiders own 5.83% of the company’s stock.
About Converge Technology Solutions
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.
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