Chemtrade Logistics Income Fund (TSE:CHE.UN) Reaches New 1-Year High Following Analyst Upgrade

Chemtrade Logistics Income Fund (TSE:CHE.UN)’s stock price reached a new 52-week high during trading on Monday after National Bank Financial raised their price target on the stock from C$18.00 to C$23.50. National Bank Financial currently has an outperform rating on the stock. Chemtrade Logistics Income Fund traded as high as C$17.53 and last traded at C$17.37, with a volume of 66405 shares changing hands. The stock had previously closed at C$16.78.

Separately, BMO Capital Markets cut their price objective on shares of Chemtrade Logistics Income Fund from C$20.00 to C$18.50 and set an “outperform” rating on the stock in a research report on Friday, January 9th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$18.14.

Chemtrade Logistics Income Fund Stock Performance

The business’s 50-day moving average price is C$15.81 and its 200-day moving average price is C$14.81. The company has a current ratio of 0.40, a quick ratio of 0.48 and a debt-to-equity ratio of 128.02. The stock has a market cap of C$1.63 billion, a PE ratio of 11.89 and a beta of 0.56.

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.