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

Chemtrade Logistics Income Fund (TSE:CHE.UN)’s stock price traded down 18.4% during 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. 1,097,264 shares traded hands during mid-day trading, an increase of 243% from the average session volume of 319,987 shares. The stock had previously closed at C$17.76.

A number of other research firms have also recently weighed in on CHE.UN. National Bank Financial raised their price target on Chemtrade Logistics Income Fund from C$18.00 to C$23.50 and gave the company an “outperform” rating in a research note on Monday. Raymond James Financial cut 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. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Chemtrade Logistics Income Fund currently has an average rating of “Hold” and an average target price of C$18.14.

Chemtrade Logistics Income Fund Stock Up 5.9%

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 50-day simple moving average of C$15.79 and a two-hundred day simple moving average of C$14.81. The company has a market cap of C$1.72 billion, a PE ratio of 12.59 and a beta of 0.56.

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.