Chemtrade Logistics Income Fund (TSE:CHE.UN) Price Target Raised to C$19.00 at CIBC

Chemtrade Logistics Income Fund (TSE:CHE.UN) had its target price upped by CIBC from C$16.00 to C$19.00 in a research report sent to investors on Friday morning,BayStreet.CA reports.

Other equities analysts have also recently issued reports about the stock. Desjardins increased their price objective on shares of Chemtrade Logistics Income Fund from C$15.50 to C$16.00 and gave the company a “buy” rating in a report on Monday, August 18th. Raymond James Financial raised shares of Chemtrade Logistics Income Fund from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from C$16.00 to C$21.00 in a research report on Thursday. Scotiabank cut Chemtrade Logistics Income Fund from an “outperform” rating to a “sector perform” rating and upped their target price for the company from C$15.00 to C$17.00 in a research report on Friday. Royal Bank Of Canada increased their target price on Chemtrade Logistics Income Fund from C$14.00 to C$18.00 in a research note on Thursday. Finally, BMO Capital Markets boosted their price target on Chemtrade Logistics Income Fund from C$15.00 to C$20.00 in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$18.29.

Chemtrade Logistics Income Fund Stock Down 5.5%

TSE CHE.UN traded down C$0.83 during midday trading on Friday, hitting C$14.38. 671,529 shares of the company traded hands, compared to its average volume of 265,971. The company has a debt-to-equity ratio of 128.02, a current ratio of 0.40 and a quick ratio of 0.48. The company has a market cap of C$1.66 billion, a PE ratio of 14.98 and a beta of 1.31. The company’s 50-day simple moving average is C$13.42 and its 200-day simple moving average is C$12.02. Chemtrade Logistics Income Fund has a 52 week low of C$8.50 and a 52 week high of C$15.57.

Chemtrade Logistics Income Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, October 31st. Shareholders of record on Friday, October 31st were given a $0.0575 dividend. The ex-dividend date was Monday, September 29th. This represents a c) dividend on an annualized basis and a yield of 4.8%. Chemtrade Logistics Income Fund’s payout ratio is 71.09%.

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.