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

Chemtrade Logistics Income Fund (TSE:CHE.UN)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$13.93 and traded as high as C$16.06. Chemtrade Logistics Income Fund shares last traded at C$16.00, with a volume of 300,980 shares changing hands.

Wall Street Analyst Weigh In

CHE.UN has been the topic of a number of research reports. Scotiabank downgraded Chemtrade Logistics Income Fund from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from C$15.00 to C$17.00 in a research note on Friday, November 14th. Canadian Imperial Bank of Commerce raised their target price on shares of Chemtrade Logistics Income Fund from C$16.00 to C$19.00 in a research report on Friday, November 14th. Raymond James Financial raised shares of Chemtrade Logistics Income Fund from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from C$16.00 to C$21.00 in a report on Thursday, November 13th. National Bank Financial increased their price target on shares of Chemtrade Logistics Income Fund from C$17.50 to C$18.00 and gave the stock an “outperform” rating in a research note on Monday, January 19th. Finally, Royal Bank Of Canada lifted their price objective on shares of Chemtrade Logistics Income Fund from C$14.00 to C$18.00 in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$18.21.

Chemtrade Logistics Income Fund Trading Down 0.2%

The business’s 50-day moving average is C$15.21 and its two-hundred day moving average is C$13.93. 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$1.85 billion, a PE ratio of 16.67 and a beta of 1.12.

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.