Chemtrade Logistics Income Fund (TSE:CHE.UN) Reaches New 12-Month High – Here’s Why

Chemtrade Logistics Income Fund (TSE:CHE.UN) shares hit a new 52-week high during trading on Wednesday . The company traded as high as C$16.36 and last traded at C$16.38, with a volume of 58801 shares. The stock had previously closed at C$16.02.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CHE.UN. Canadian Imperial Bank of Commerce increased their target price on Chemtrade Logistics Income Fund from C$16.00 to C$19.00 in a report on Friday, November 14th. BMO Capital Markets lowered their price target on Chemtrade Logistics Income Fund from C$20.00 to C$18.50 and set an “outperform” rating on the stock in a research report on Friday, January 9th. National Bank Financial increased their price objective on 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. Scotiabank downgraded shares of Chemtrade Logistics Income Fund from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from C$15.00 to C$17.00 in a research note on Friday, November 14th. Finally, Raymond James Financial raised shares of Chemtrade Logistics Income Fund from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from C$16.00 to C$21.00 in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Chemtrade Logistics Income Fund presently has a consensus rating of “Moderate Buy” and an average target price of C$18.21.

Chemtrade Logistics Income Fund Price Performance

The stock has a fifty day moving average of C$15.10 and a 200-day moving average of C$13.81. The firm has a market capitalization of C$1.87 billion, a P/E ratio of 16.83 and a beta of 1.12. The company has a quick ratio of 0.48, a current ratio of 0.40 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. 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.