According to a study by Bloomberg, the fourteen research firms that monitor Converge Technology Solutions Corp. (TSE: CTS) have, on average, assigned the company the rating of “Moderate Buy.” There have been a total of six experts who have provided a “buy” recommendation for the stock, while only two have provided a “hold” recommendation for it.
The target price of C$11.25 for the next 12 months has been supplied by brokers who have released research on the company in the prior year. This price represents the consensus among these brokers. In addition, the company’s stock has been evaluated by several different stock analysts, each of whom has supplied their own opinion. The price objective that Scotiabank has set for the shares of Converge Technology Solutions has been increased from C$11.00 to C$12.00, according to a research note issued on Wednesday, August 3. Scotiabank published the report. In a research note released on May 31, Berenberg Bank stated its intention to reduce its price objective for Converge Technology Solutions shares from C$18.25 to C$14.00.
In a research report published on Monday, June 27, Cormark decreased its target price on shares of Converge Technology Solutions from C$11.50 to C$11.00 and assigned the company a “na” rating; a research report that Converge Technology Solutions was given an “outperform” rating by National Bankshares in a research report that was published on Thursday, July 21. Even though the company lowered its target price on the stock from C$14.00 to C$12.00, National Bankshares maintained this rating.
The same corporation that shares its name was the subject of the report. In a research report made public on Thursday, May 12, TD Securities downgraded their recommendation for Converge Technology Solutions from “buy” to “hold” in a research report made public on Thursday, May 12.
The final and most significant adjustment was made here. On Tuesday, the price of one CTS stock was $5.71 per share. The debt-to-equity ratio, the current ratio, and the quick ratio are all equal to 32.83. Therefore, all three ratios have the same value. Both the current and quick ratios are at 0.99, while the quick ratio stands at 0.84. A price-to-earnings ratio of 63.44 and a market value of 1.23 billion Canadian dollars are both associated with the corporation. The company’s current price is trading at a simple moving average of 50 days of $6.33, and the simple moving average of 200 days is $6.18. Over a year, the price of Converge Technology Solutions can range from as little as $4.85 (C) to as much as $13.09 (C).
The subsidiaries of Converge Technology Solutions Corp. make it possible for customers to acquire a wide selection of computer products, such as hardware, software, and peripherals, as well as storage devices and systems. In addition to cybersecurity, analytics, hybrid cloud, infrastructure, cloud delivery, and solutions for IT spend optimization, compute efficiency, network optimization, installation, and maintenance services. Professional services in the field of information technology, such as cloud optimization and building the infrastructure needed for a data center, are also offered.