Chemtrade Logistics Income Fund (TSE:CHE.UN) Price Target Raised to C$18.50 at Desjardins

Chemtrade Logistics Income Fund (TSE:CHE.UN) had its price objective lifted by research analysts at Desjardins from C$17.25 to C$18.50 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price objective suggests a potential upside of 12.12% from the stock’s current price.

CHE.UN has been the topic of a number of other reports. Raymond James Financial upgraded shares of Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and upped their price target for the company 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 target price on the stock in a report on Thursday, April 23rd. Royal Bank Of Canada increased 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 research report on Wednesday, May 13th. Finally, Scotia raised their price target on Chemtrade Logistics Income Fund from C$17.00 to C$19.00 and gave the stock a “sector perform” rating in a report on Thursday, May 14th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$19.56.

Chemtrade Logistics Income Fund Stock Performance

Chemtrade Logistics Income Fund stock traded up C$0.13 during midday trading on Friday, reaching C$16.50. The stock had a trading volume of 451,813 shares, compared to its average volume of 341,528. Chemtrade Logistics Income Fund has a 12 month low of C$11.75 and a 12 month high of C$18.43. The firm’s 50-day moving average price is C$16.27 and its 200 day moving average price is C$16.17. The firm has a market capitalization of C$1.86 billion, a PE ratio of 16.02 and a beta of 0.87. The company has a quick ratio of 0.47, a current ratio of 0.40 and a debt-to-equity ratio of 128.02.

Chemtrade Logistics Income Fund (TSE:CHE.UN) last issued its earnings results on Wednesday, August 12th. The company reported C$0.31 earnings per share for the quarter. The firm had revenue of C$578.70 million during the quarter. Chemtrade Logistics Income Fund had a net margin of 7.85% and a return on equity of 19.73%. As a group, research analysts predict that Chemtrade Logistics Income Fund will post 0.9919929 earnings per share for the current fiscal year.

About Chemtrade Logistics Income Fund

Chemtrade operates a diversified business providing industrial chemicals and services to customers in North America and around the world. Chemtrade is one of North America’s largest suppliers of sulphuric acid, spent acid processing services, inorganic coagulants for water treatment, sodium chlorate, sodium nitrite and sodium hydrosulphite. Chemtrade is also one of the largest producers of high purity sulphuric acid for the semiconductor industry in North America. Chemtrade is a leading regional supplier of sulphur, chlor-alkali products, and zinc oxide.