Chemtrade Logistics Income Fund (TSE:CHE.UN) Share Price Passes Above 200 Day Moving Average – Here’s Why

Chemtrade Logistics Income Fund (TSE:CHE.UN) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$10.34 and traded as high as C$11.06. Chemtrade Logistics Income Fund shares last traded at C$10.82, with a volume of 255,778 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Desjardins upped their target price on shares of Chemtrade Logistics Income Fund from C$13.25 to C$14.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Raymond James boosted their price objective on shares of Chemtrade Logistics Income Fund from C$13.00 to C$14.00 in a report on Monday, November 18th. BMO Capital Markets raised their target price on shares of Chemtrade Logistics Income Fund from C$12.00 to C$15.00 in a report on Tuesday, November 19th. Finally, CIBC decreased their target price on shares of Chemtrade Logistics Income Fund from C$15.00 to C$13.00 in a research note on Tuesday, December 10th.

Chemtrade Logistics Income Fund Stock Up 0.3 %

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 market cap of C$1.27 billion, a PE ratio of 9.86 and a beta of 1.50. The company’s 50-day moving average price is C$11.21 and its 200 day moving average price is C$10.35.

About Chemtrade Logistics Income Fund

Chemtrade Logistics Income Fund provides industrial chemicals and services in Canada, the United States, and South America. It operates through Sulphur Products & Performance Chemicals (SPPC), Water Solutions & Specialty Chemicals (WSSC), and Electrochemicals (EC) segments. The SPPC segment removes and/or produces merchant, regenerated, and ultra pure sulphuric acid, sodium hydrosulphite, elemental sulphur, liquid sulphur dioxide, hydrogen sulphide, sodium bisulphite, and sulphides.