Chemtrade Logistics Income Fund (TSE:CHE.UN) Sets New 52-Week High – Should You Buy?

Chemtrade Logistics Income Fund (TSE:CHE.UN)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$14.48 and last traded at C$14.47, with a volume of 293900 shares. The stock had previously closed at C$14.14.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Desjardins raised their price target on shares of Chemtrade Logistics Income Fund from C$15.50 to C$16.00 and gave the stock a “buy” rating in a research note on Monday, August 18th. Raymond James Financial increased their price objective on shares of Chemtrade Logistics Income Fund from C$15.00 to C$16.00 in a report on Monday, August 18th. Finally, Scotiabank raised shares of Chemtrade Logistics Income Fund from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from C$13.50 to C$15.00 in a research note on Friday, August 15th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$15.25.

Chemtrade Logistics Income Fund Stock Up 6.4%

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 company has a market capitalization of C$1.74 billion, a PE ratio of 14.39 and a beta of 1.31. The business’s 50 day simple moving average is C$13.30 and its 200 day simple moving average is C$11.95.

Chemtrade Logistics Income Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, October 31st. Stockholders of record on Friday, October 31st were given a dividend of $0.0575 per share. This represents a c) annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, September 29th. Chemtrade Logistics Income Fund’s payout ratio is presently 63.08%.

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.