Chemtrade Logistics Income Fund (TSE:CHE.UN) Raised to Strong-Buy at Raymond James Financial

Chemtrade Logistics Income Fund (TSE:CHE.UN) was upgraded by equities research analysts at Raymond James Financial from an “outperform” rating to a “strong-buy” rating in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a C$21.00 price target on the stock, up from their previous price target of C$16.00. Raymond James Financial’s price target would indicate a potential upside of 37.52% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. Scotiabank raised shares of Chemtrade Logistics Income Fund from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$13.50 to C$15.00 in a report on Friday, August 15th. Desjardins raised their price objective on Chemtrade Logistics Income Fund from C$15.50 to C$16.00 and gave the stock a “buy” rating in a research report on Monday, August 18th. Finally, Royal Bank Of Canada increased their price target on Chemtrade Logistics Income Fund from C$14.00 to C$18.00 in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$17.07.

Chemtrade Logistics Income Fund Stock Up 0.6%

Shares of Chemtrade Logistics Income Fund stock traded up C$0.09 on Thursday, reaching C$15.27. 280,263 shares of the company were exchanged, compared to its average volume of 263,704. The company has a market capitalization of C$1.72 billion, a price-to-earnings ratio of 14.27 and a beta of 1.31. Chemtrade Logistics Income Fund has a one year low of C$8.50 and a one year high of C$15.57. The company has a 50-day moving average of C$13.35 and a 200 day moving average of C$11.97. The company has a current ratio of 0.40, a quick ratio of 0.48 and a debt-to-equity ratio of 128.02.

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.