Chemtrade Logistics Income Fund (TSE:CHE.UN) Trading Down 18.4% After Analyst Downgrade

Chemtrade Logistics Income Fund (TSE:CHE.UN) was down 18.4% during mid-day trading on Tuesday after BMO Capital Markets downgraded the stock from an outperform rating to a market perform rating. BMO Capital Markets now has a C$18.50 price target on the stock. Chemtrade Logistics Income Fund traded as low as C$13.51 and last traded at C$14.49. Approximately 1,097,264 shares were traded during mid-day trading, an increase of 243% from the average daily volume of 319,987 shares. The stock had previously closed at C$17.76.

Other analysts also recently issued research reports about the stock. Raymond James Financial downgraded shares of Chemtrade Logistics Income Fund from a “strong-buy” rating to a “market perform” rating and reduced their price target for the company from C$21.00 to C$15.00 in a research report on Tuesday. National Bank Financial lifted their price target on shares of Chemtrade Logistics Income Fund from C$18.00 to C$23.50 and gave the company an “outperform” rating in a research report on Monday. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$18.14.

Chemtrade Logistics Income Fund Trading Up 5.9%

The company has a debt-to-equity ratio of 128.02, a quick ratio of 0.48 and a current ratio of 0.40. The firm has a 50 day simple moving average of C$15.79 and a two-hundred day simple moving average of C$14.81. The firm has a market capitalization of C$1.72 billion, a P/E ratio of 12.59 and a beta of 0.56.

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.