Desjardins Reaffirms “Buy” Rating for Converge Technology Solutions (TSE:CTS)

Desjardins restated their buy rating on shares of Converge Technology Solutions (TSE:CTS – Get Rating) in a research report released on Wednesday, Zacks.com reports. Desjardins also issued estimates for Converge Technology Solutions’ Q1 2022 earnings at $0.07 EPS, Q2 2022 earnings at $0.08 EPS, Q3 2022 earnings at $0.09 EPS and Q4 2022 earnings at $0.11 EPS.

Other research analysts have also issued reports about the stock. Echelon Wealth Partners reissued a buy rating and issued a C$14.50 target price on shares of Converge Technology Solutions in a research note on Wednesday. Raymond James reissued an outperform rating and issued a C$12.50 target price on shares of Converge Technology Solutions in a research note on Friday, February 18th. Finally, TD Securities initiated coverage on shares of Converge Technology Solutions in a research note on Tuesday, December 14th. They issued a hold rating and a C$13.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Buy and an average price target of C$13.00.

CTS stock opened at C$10.11 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.09 and a debt-to-equity ratio of 3.09. Converge Technology Solutions has a 12-month low of C$4.91 and a 12-month high of C$13.09. The stock has a market cap of C$2.17 billion and a price-to-earnings ratio of 177.37. The business’s 50-day moving average is C$9.77 and its 200 day moving average is C$10.64.

Converge Technology Solutions Company Profile (Get Rating)

Converge Technology Solutions Corp., through its subsidiaries, distributes storage devices and systems, computer products, software, and peripherals. The company also provides installation and maintenance; analytics, hybrid cloud, infrastructure, and cybersecurity services; cloud delivery, compute efficiency, network optimization, and IT spend optimization solutions; and IT professional services, such as data center infrastructure integration and solutioning, and cloud optimization.

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