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

Chemtrade Logistics Income Fund (TSE:CHE.UN) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$15.89 and traded as high as C$16.91. Chemtrade Logistics Income Fund shares last traded at C$16.71, with a volume of 122,467 shares.

Analysts Set New Price Targets

A number of brokerages have recently commented on CHE.UN. BMO Capital Markets upgraded Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and set a C$18.50 price target for the company in a research note on Thursday, April 23rd. Scotia boosted their price objective on Chemtrade Logistics Income Fund from C$17.00 to C$19.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 14th. National Bank Financial boosted their price objective on Chemtrade Logistics Income Fund from C$18.00 to C$23.50 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Royal Bank Of Canada upped their target price on Chemtrade Logistics Income Fund from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Finally, Raymond James Financial upgraded Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and increased their target price for the company from C$15.00 to C$21.00 in a research report on Tuesday, April 28th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$19.25.

Chemtrade Logistics Income Fund Stock Down 0.2%

The firm has a market capitalization of C$1.88 billion, a price-to-earnings ratio of 16.22 and a beta of 0.88. The stock has a fifty day moving average of C$16.52 and a two-hundred day moving average of C$15.89. The company has a debt-to-equity ratio of 128.02, a current ratio of 0.40 and a quick ratio of 0.47.

Chemtrade Logistics Income Fund (TSE:CHE.UN) last announced its earnings results on Monday, May 11th. The company reported C$0.23 EPS for the quarter. Chemtrade Logistics Income Fund had a return on equity of 19.73% and a net margin of 7.85%.The firm had revenue of C$503.00 million for the quarter. Sell-side analysts anticipate that Chemtrade Logistics Income Fund will post 0.9919929 earnings per share for the current year.

Chemtrade Logistics Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 29th were paid a $0.06 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Thursday, April 30th. Chemtrade Logistics Income Fund’s payout ratio is currently 67.72%.

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.