Chemtrade Logistics Income Fund (TSE:CHE.UN) Reaches New 12-Month High – Should You Buy?

Chemtrade Logistics Income Fund (TSE:CHE.UN) reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$18.06 and last traded at C$18.05, with a volume of 156981 shares changing hands. The stock had previously closed at C$17.80.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CHE.UN. Raymond James Financial upgraded shares of Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and increased their target price for the stock from C$15.00 to C$21.00 in a report 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 target on the stock in a research report on Thursday, April 23rd. Finally, National Bank Financial boosted their price target 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 report on Monday, April 13th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Chemtrade Logistics Income Fund currently has an average rating of “Moderate Buy” and an average target price of C$19.00.

Chemtrade Logistics Income Fund Trading Up 2.0%

The company has a market cap of C$2.04 billion, a P/E ratio of 14.88 and a beta of 0.65. The company has a current ratio of 0.40, a quick ratio of 0.48 and a debt-to-equity ratio of 128.02. The business has a 50 day moving average price of C$15.87 and a 200-day moving average price of C$15.11.

Chemtrade Logistics Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 29th will be given a dividend of $0.06 per share. This represents a c) annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Thursday, April 30th. Chemtrade Logistics Income Fund’s dividend payout ratio is 56.56%.

Chemtrade Logistics Income Fund Company Profile

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.