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

Chemtrade Logistics Income Fund (TSE:CHE.UN) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$14.11 and traded as high as C$15.72. Chemtrade Logistics Income Fund shares last traded at C$15.66, with a volume of 886,337 shares.

Analysts Set New Price Targets

CHE.UN has been the subject of several analyst reports. Raymond James Financial upgraded Chemtrade Logistics Income Fund from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from C$16.00 to C$21.00 in a report on Thursday, November 13th. Canadian Imperial Bank of Commerce increased their price target on Chemtrade Logistics Income Fund from C$16.00 to C$19.00 in a research note on Friday, November 14th. 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 report on Friday, November 14th. National Bank Financial boosted their price target 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. Finally, Royal Bank Of Canada increased their price objective on shares of Chemtrade Logistics Income Fund from C$14.00 to C$18.00 in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Chemtrade Logistics Income Fund presently has an average rating of “Moderate Buy” and a consensus price target of C$18.21.

Chemtrade Logistics Income Fund Stock Down 1.5%

The company has a quick ratio of 0.48, a current ratio of 0.40 and a debt-to-equity ratio of 128.02. The firm’s 50-day moving average price is C$15.41 and its 200 day moving average price is C$14.14. The firm has a market cap of C$1.79 billion, a P/E ratio of 16.07 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.