Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Chemtrade Logistics Income Fund (TSE:CHE.UN)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$16.17 and traded as high as C$16.43. Chemtrade Logistics Income Fund shares last traded at C$16.37, with a volume of 638,224 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CHE.UN. BMO Capital Markets upgraded 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. Desjardins upped their target price on shares of Chemtrade Logistics Income Fund from C$17.25 to C$18.50 and gave the stock a “buy” rating in a research report on Friday. Raymond James Financial raised shares of Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and increased their target price for the company from C$15.00 to C$21.00 in a report on Tuesday, April 28th. 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, May 13th. Finally, Scotia boosted their price target on Chemtrade Logistics Income Fund from C$17.00 to C$19.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 14th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$19.56.

Chemtrade Logistics Income Fund Trading Up 1.5%

The firm has a market cap of C$1.86 billion, a PE ratio of 13.08 and a beta of 0.87. The business has a 50-day moving average price of C$16.27 and a two-hundred day moving average price of C$16.17. The company has a debt-to-equity ratio of 128.02, a current ratio of 0.40 and a quick ratio of 0.47.

Chemtrade Logistics Income Fund (TSE:CHE.UN) last released its quarterly earnings results on Wednesday, August 12th. The company reported C$0.31 earnings per share (EPS) for the quarter. The business had revenue of C$578.70 million during the quarter. Chemtrade Logistics Income Fund had a return on equity of 19.73% and a net margin of 7.85%. Analysts forecast that Chemtrade Logistics Income Fund will post 0.9919929 EPS for the current year.

About Chemtrade Logistics Income Fund

Chemtrade operates a diversified business providing industrial chemicals and services to customers in North America and around the world. Chemtrade is one of North America’s largest suppliers of sulphuric acid, spent acid processing services, inorganic coagulants for water treatment, sodium chlorate, sodium nitrite and sodium hydrosulphite. Chemtrade is also one of the largest producers of high purity sulphuric acid for the semiconductor industry in North America. Chemtrade is a leading regional supplier of sulphur, chlor-alkali products, and zinc oxide.