Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Chemtrade Logistics Income Fund (TSE:CHE.UN) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$13.18 and traded as high as C$15.10. Chemtrade Logistics Income Fund shares last traded at C$14.94, with a volume of 156,042 shares changing hands.

Analyst Upgrades and Downgrades

CHE.UN has been the subject of several research reports. Raymond James Financial upgraded Chemtrade Logistics Income Fund from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from C$16.00 to C$21.00 in a research report on Thursday, November 13th. BMO Capital Markets decreased their price target on shares of Chemtrade Logistics Income Fund from C$20.00 to C$18.50 and set an “outperform” rating on the stock in a research note on Friday, January 9th. Scotiabank lowered shares of Chemtrade Logistics Income Fund from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from C$15.00 to C$17.00 in a research report on Friday, November 14th. CIBC lifted their target price on shares of Chemtrade Logistics Income Fund from C$16.00 to C$19.00 in a research note on Friday, November 14th. Finally, Royal Bank Of Canada increased their price target on Chemtrade Logistics Income Fund from C$14.00 to C$18.00 in a research note on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$18.07.

Chemtrade Logistics Income Fund Price Performance

The company’s 50-day simple moving average is C$14.48 and its 200-day simple moving average is C$13.19. 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$1.73 billion, a price-to-earnings ratio of 15.56 and a beta of 1.18.

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.