Chemtrade Logistics Income Fund (TSE:CHE.UN) Trading Down 5.5% – Here’s Why

Shares of Chemtrade Logistics Income Fund (TSE:CHE.UN) were down 5.5% during trading on Tuesday . The stock traded as low as C$16.85 and last traded at C$17.39. Approximately 224,064 shares traded hands during trading, a decline of 42% from the average daily volume of 383,275 shares. The stock had previously closed at C$18.40.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. National Bank Financial boosted their price objective on Chemtrade Logistics Income Fund from C$18.00 to C$23.50 and gave the company an “outperform” rating in a report on Monday, April 13th. Scotia increased their target price on Chemtrade Logistics Income Fund from C$17.00 to C$19.00 and gave the stock a “sector perform” rating in a report on Thursday. Royal Bank Of Canada lifted their target price on Chemtrade Logistics Income Fund from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a research report on Wednesday. Raymond James Financial upgraded Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and boosted their price target for the company from C$15.00 to C$21.00 in a report on Tuesday, April 28th. Finally, BMO Capital Markets raised Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and set a C$18.50 price target on the stock in a research report on Thursday, April 23rd. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$19.25.

Chemtrade Logistics Income Fund Price Performance

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 company’s fifty day moving average price is C$16.01 and its 200 day moving average price is C$15.22. The firm has a market capitalization of C$1.92 billion, a price-to-earnings ratio of 13.99 and a beta of 0.65.

Chemtrade Logistics Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 4.2%. Chemtrade Logistics Income Fund’s dividend payout ratio is 56.56%.

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.