Royal Bank Of Canada Forecasts Strong Price Appreciation for Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock

Chemtrade Logistics Income Fund (TSE:CHE.UN) had its price objective upped by Royal Bank Of Canada from C$18.00 to C$20.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 17.65% from the company’s previous close.

Several other brokerages also recently issued reports on CHE.UN. Raymond James Financial raised shares of Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from C$15.00 to C$21.00 in a research note on Tuesday, April 28th. BMO Capital Markets raised shares of Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and set a C$18.50 price objective for the company in a research note on Thursday, April 23rd. Finally, National Bank Financial raised their price objective on shares of Chemtrade Logistics Income Fund from C$18.00 to C$23.50 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Chemtrade Logistics Income Fund currently has a consensus rating of “Moderate Buy” and a consensus target price of C$19.29.

Chemtrade Logistics Income Fund Trading Up 2.5%

CHE.UN traded up C$0.41 on Wednesday, hitting C$17.00. The company had a trading volume of 333,986 shares, compared to its average volume of 397,988. The company has a market cap of C$1.91 billion, a PE ratio of 13.93 and a beta of 0.65. Chemtrade Logistics Income Fund has a 12-month low of C$10.61 and a 12-month high of C$18.43. 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 business’s fifty day simple moving average is C$15.98 and its 200 day simple moving average is C$15.20.

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.