Chemtrade Logistics Income Fund (TSE:CHE.UN) Sets New 12-Month High – Still a Buy?

Chemtrade Logistics Income Fund (TSE:CHE.UN)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$15.59 and last traded at C$15.57, with a volume of 157810 shares. The stock had previously closed at C$15.21.

Analyst Upgrades and Downgrades

CHE.UN has been the subject of several analyst reports. BMO Capital Markets reduced their price target on shares of Chemtrade Logistics Income Fund from C$20.00 to C$18.50 and set an “outperform” rating for the company in a research report on Friday. Scotiabank downgraded Chemtrade Logistics Income Fund from an “outperform” rating to a “sector perform” rating and increased their target price for the company from C$15.00 to C$17.00 in a research note on Friday, November 14th. Raymond James Financial raised Chemtrade Logistics Income Fund from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from C$16.00 to C$21.00 in a report on Thursday, November 13th. CIBC upped their price target on Chemtrade Logistics Income Fund from C$16.00 to C$19.00 in a report on Friday, November 14th. Finally, Royal Bank Of Canada lifted their price objective on Chemtrade Logistics Income Fund from C$14.00 to C$18.00 in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Chemtrade Logistics Income Fund presently has a consensus rating of “Moderate Buy” and a consensus target price of C$18.07.

Chemtrade Logistics Income Fund Trading Down 2.9%

The stock has a market cap of C$1.76 billion, a PE ratio of 15.81 and a beta of 1.18. 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 stock has a fifty day moving average price of C$14.35 and a 200 day moving average price of C$13.05.

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.