Chemtrade Logistics Income Fund (TSE:CHE.UN) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Chemtrade Logistics Income Fund (TSE:CHE.UN) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$14.29 and traded as high as C$14.72. Chemtrade Logistics Income Fund shares last traded at C$14.60, with a volume of 519,572 shares traded.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Raymond James Financial raised shares of Chemtrade Logistics Income Fund from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from C$16.00 to C$21.00 in a research report on Thursday, November 13th. Canadian Imperial Bank of Commerce upped their price objective on Chemtrade Logistics Income Fund from C$16.00 to C$19.00 in a research note on Friday, November 14th. National Bank Financial raised their target price on Chemtrade Logistics Income Fund from C$17.50 to C$18.00 and gave the stock an “outperform” rating in a research report on Monday, January 19th. Scotiabank cut Chemtrade Logistics Income Fund from an “outperform” rating to a “sector perform” rating and upped their price target for the company from C$15.00 to C$17.00 in a research report on Friday, November 14th. Finally, BMO Capital Markets cut their price target on Chemtrade Logistics Income Fund from C$20.00 to C$18.50 and set an “outperform” rating for the company in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$18.21.

Chemtrade Logistics Income Fund Stock Down 1.6%

The company has a market capitalization of C$1.69 billion, a PE ratio of 15.21 and a beta of 0.80. The company has a debt-to-equity ratio of 128.02, a quick ratio of 0.48 and a current ratio of 0.40. The stock’s 50 day moving average is C$15.48 and its 200 day moving average is C$14.29.

Chemtrade Logistics Income Fund Company Profile

Chemtrade Logistics Income Fund provides industrial chemicals and services to customers in North America and around the world. The company organized into four main operating segments: Sulphur Products and Performance Chemicals (SPPC), Water Solutions and Specialty Chemicals (WSSC), Electrochemicals, and Corporate. It generates maximum revenue from Electrochemicals segment. Chemtrade operates in Canada, the United States, and South America of which maximum revenue comes from the United States. SPPC markets, remove and produces merchant, regenerated and ultra-pure sulphuric acid, liquid sulphur dioxide, sodium hydrosulfite and provides other processing services.