Chemtrade Logistics Income Fund (TSE:CHE.UN) Rating Lowered to “Market Perform” at BMO Capital Markets

Chemtrade Logistics Income Fund (TSE:CHE.UN) was downgraded by BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday,BayStreet.CA reports. They currently have a C$18.50 target price on the stock. BMO Capital Markets’ price target indicates a potential upside of 21.87% from the stock’s current price.

Several other brokerages also recently weighed in on CHE.UN. Raymond James Financial downgraded Chemtrade Logistics Income Fund from a “strong-buy” rating to a “market perform” rating and cut their target price for the company from C$21.00 to C$15.00 in a research note on Tuesday. National Bank Financial lifted their target price on Chemtrade Logistics Income Fund from C$18.00 to C$23.50 and gave the company an “outperform” rating in a research note on Monday. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$18.14.

Chemtrade Logistics Income Fund Trading Down 1.2%

TSE:CHE.UN opened at C$15.18 on Wednesday. The business has a 50 day simple moving average of C$15.78 and a 200 day simple moving average of C$14.81. The company has a debt-to-equity ratio of 128.02, a current ratio of 0.40 and a quick ratio of 0.48. The firm has a market capitalization of C$1.70 billion, a P/E ratio of 12.44 and a beta of 0.56. Chemtrade Logistics Income Fund has a 12-month low of C$9.14 and a 12-month 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.