Chemtrade Logistics Income Fund (TSE:CHE.UN) Downgraded to Market Perform Rating by Raymond James Financial

Raymond James Financial cut shares of Chemtrade Logistics Income Fund (TSE:CHE.UN) from a strong-buy rating to a market perform rating in a report released on Tuesday,BayStreet.CA reports. Raymond James Financial currently has C$15.00 target price on the stock, down from their previous target price of C$21.00.

CHE.UN has been the subject of a number of other research reports. National Bank Financial increased their price objective on shares of Chemtrade Logistics Income Fund from C$18.00 to C$23.50 and gave the stock an “outperform” rating in a research report on Monday. BMO Capital Markets lowered their price objective on shares of Chemtrade Logistics Income Fund from C$20.00 to C$18.50 and set an “outperform” rating for the company in a research report on Friday, January 9th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$18.14.

Chemtrade Logistics Income Fund Stock Performance

TSE:CHE.UN opened at C$14.50 on Tuesday. 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 has a market capitalization of C$1.63 billion, a P/E ratio of 11.89 and a beta of 0.56. The company has a 50 day moving average price of C$15.81 and a 200 day moving average price of C$14.81. Chemtrade Logistics Income Fund has a fifty-two week low of C$9.14 and a fifty-two week high of C$17.96.

About Chemtrade Logistics Income Fund

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.