Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock Crosses Above 200 Day Moving Average – Here’s Why

Chemtrade Logistics Income Fund (TSE:CHE.UN) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$12.91 and traded as high as C$14.91. Chemtrade Logistics Income Fund shares last traded at C$14.85, with a volume of 187,746 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets upped their target price on shares of Chemtrade Logistics Income Fund from C$15.00 to C$20.00 in a report on Thursday, November 13th. Royal Bank Of Canada lifted their price target on Chemtrade Logistics Income Fund from C$14.00 to C$18.00 in a report on Thursday, November 13th. Raymond James Financial upgraded Chemtrade Logistics Income Fund from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from C$16.00 to C$21.00 in a research note on Thursday, November 13th. CIBC raised their price objective on Chemtrade Logistics Income Fund from C$16.00 to C$19.00 in a research report on Friday, November 14th. Finally, Scotiabank downgraded Chemtrade Logistics Income Fund from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from C$15.00 to C$17.00 in a research note on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$18.29.

Chemtrade Logistics Income Fund Price Performance

The stock has a market capitalization of C$1.72 billion, a price-to-earnings ratio of 15.47 and a beta of 1.18. The company’s 50-day simple moving average is C$14.16 and its 200-day simple moving average is C$12.92. The company has a debt-to-equity ratio of 128.02, a current ratio of 0.40 and a quick ratio of 0.48.

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.