Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock Rating Lowered by Raymond James Financial

Chemtrade Logistics Income Fund (TSE:CHE.UN) was downgraded by research analysts at Raymond James Financial from a “strong-buy” rating to a “market perform” rating in a report released on Tuesday,BayStreet.CA reports. They currently have a C$15.00 target price on the stock, down from their prior target price of C$21.00. Raymond James Financial’s target price would indicate a potential upside of 4.17% from the company’s previous close.

Several other equities research analysts also recently issued reports on the company. National Bank Financial increased their price target on Chemtrade Logistics Income Fund from C$18.00 to C$23.50 and gave the stock an “outperform” rating in a report on Monday. 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 for the company in a report on Friday, January 9th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$18.14.

Chemtrade Logistics Income Fund Trading Down 18.9%

TSE CHE.UN traded down C$3.36 on Tuesday, reaching C$14.40. The company had a trading volume of 2,727,765 shares, compared to its average volume of 355,348. The stock’s 50 day moving average is C$15.84 and its 200-day moving average is C$14.80. The stock has a market cap of C$1.62 billion, a price-to-earnings ratio of 11.80 and a beta of 0.56. 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 has a 52 week low of C$9.14 and a 52 week high of C$17.96.

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.