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

Chemtrade Logistics Income Fund (TSE:CHE.UN)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$14.59 and traded as high as C$16.33. Chemtrade Logistics Income Fund shares last traded at C$16.09, with a volume of 180,715 shares traded.

Analyst Ratings Changes

A number of brokerages recently issued reports on CHE.UN. National Bank Financial increased 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 report on Monday, January 19th. 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 on the stock in a report 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 given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$18.21.

Chemtrade Logistics Income Fund Price Performance

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 business has a 50 day simple moving average of C$15.67 and a 200-day simple moving average of C$14.59. The firm has a market cap of C$1.81 billion, a price-to-earnings ratio of 13.19 and a beta of 0.80.

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.