Scotia Issues Positive Forecast for Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock Price

Chemtrade Logistics Income Fund (TSE:CHE.UN) had its price target raised by research analysts at Scotia from C$17.00 to C$19.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotia’s target price points to a potential upside of 10.98% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on CHE.UN. Royal Bank Of Canada lifted their price target on shares of Chemtrade Logistics Income Fund from C$18.00 to C$20.00 and gave the company an “outperform” rating in a research report on Wednesday. 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, April 13th. Raymond James Financial raised shares of Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from C$15.00 to C$21.00 in a research note on Tuesday, April 28th. Finally, 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 objective for the company in a research note on Thursday, April 23rd. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$19.25.

Chemtrade Logistics Income Fund Price Performance

Shares of CHE.UN stock traded up C$0.36 during midday trading on Thursday, reaching C$17.12. 231,114 shares of the company traded hands, compared to its average volume of 398,508. The firm’s 50 day simple moving average is C$16.01 and its two-hundred day simple moving average is C$15.22. Chemtrade Logistics Income Fund has a 1-year low of C$10.65 and a 1-year high of C$18.43. 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 firm has a market cap of C$1.92 billion, a PE ratio of 14.03 and a beta of 0.65.

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.