Chemtrade Logistics Income Fund (TSE:CHE.UN) Hits New 1-Year High After Analyst Upgrade

Chemtrade Logistics Income Fund (TSE:CHE.UN) reached a new 52-week high on Thursday after Desjardins raised their price target on the stock from C$13.25 to C$14.00. Desjardins currently has a buy rating on the stock. Chemtrade Logistics Income Fund traded as high as C$11.26 and last traded at C$11.25, with a volume of 83436 shares. The stock had previously closed at C$11.00.

A number of other research firms have also recently weighed in on CHE.UN. National Bankshares upped their price target on Chemtrade Logistics Income Fund from C$13.50 to C$14.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. BMO Capital Markets upped their target price on Chemtrade Logistics Income Fund from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Scotiabank upped their target price on Chemtrade Logistics Income Fund from C$10.50 to C$11.00 in a research report on Monday, August 19th. Finally, CIBC upped their target price on Chemtrade Logistics Income Fund from C$13.50 to C$14.00 in a research report on Friday, August 16th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$12.83.

Chemtrade Logistics Income Fund Stock Performance

The company has a market cap of C$1.30 billion, a P/E ratio of 10.13 and a beta of 1.50. The company has a 50 day moving average price of C$10.35 and a 200-day moving average price of C$9.49. 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 Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 30th were paid a $0.055 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $0.66 annualized dividend and a dividend yield of 5.92%. Chemtrade Logistics Income Fund’s payout ratio is 60.00%.

Chemtrade Logistics Income Fund Company Profile

Chemtrade Logistics Income Fund provides industrial chemicals and services in Canada, the United States, and South America. It operates through Sulphur Products & Performance Chemicals (SPPC), Water Solutions & Specialty Chemicals (WSSC), and Electrochemicals (EC) segments. The SPPC segment removes and/or produces merchant, regenerated, and ultra pure sulphuric acid, sodium hydrosulphite, elemental sulphur, liquid sulphur dioxide, hydrogen sulphide, sodium bisulphite, and sulphides.