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

Shares of Chemtrade Logistics Income Fund (TSE:CHE.UN) reached a new 52-week high on Thursday . The stock traded as high as C$15.89 and last traded at C$15.79, with a volume of 277336 shares. The stock had previously closed at C$15.51.

Wall Street Analysts Forecast Growth

CHE.UN has been the topic of several recent research reports. Royal Bank Of Canada upped their price objective on shares of Chemtrade Logistics Income Fund from C$14.00 to C$18.00 in a report on Thursday, November 13th. CIBC upped their price target on shares of Chemtrade Logistics Income Fund from C$16.00 to C$19.00 in a research note on Friday, November 14th. BMO Capital Markets cut their price objective on shares of Chemtrade Logistics Income Fund from C$20.00 to C$18.50 and set an “outperform” rating for the company in a report on Friday, January 9th. Raymond James Financial raised shares of Chemtrade Logistics Income Fund from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from C$16.00 to C$21.00 in a report on Thursday, November 13th. Finally, National Bankshares raised 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 report on Monday, January 19th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$18.21.

Chemtrade Logistics Income Fund Stock Up 1.7%

The company has a current ratio of 0.40, a quick ratio of 0.48 and a debt-to-equity ratio of 128.02. The firm has a market capitalization of C$1.83 billion, a P/E ratio of 16.44 and a beta of 1.18. The company has a 50 day simple moving average of C$14.63 and a two-hundred day simple moving average of C$13.43.

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.