Chemtrade Logistics Income Fund (TSE:CHE.UN) Price Target Raised to C$14.00 at Desjardins

Chemtrade Logistics Income Fund (TSE:CHE.UN) had its price objective hoisted by Desjardins from C$13.25 to C$14.00 in a research note published on Thursday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other brokerages also recently issued reports on CHE.UN. National Bankshares increased their price objective on shares of Chemtrade Logistics Income Fund from C$13.50 to C$14.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. BMO Capital Markets upped their target price on shares of Chemtrade Logistics Income Fund from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Scotiabank lifted their price target on Chemtrade Logistics Income Fund from C$10.50 to C$11.00 in a research note on Monday, August 19th. Finally, CIBC boosted their price target on Chemtrade Logistics Income Fund from C$13.50 to C$14.00 in a report on Friday, August 16th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$12.83.

Chemtrade Logistics Income Fund Price Performance

TSE CHE.UN opened at C$11.14 on Thursday. 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$1.30 billion, a price-to-earnings ratio of 10.13 and a beta of 1.50. The business has a 50 day simple moving average of C$10.35 and a 200 day simple moving average of C$9.49. Chemtrade Logistics Income Fund has a 52-week low of C$7.77 and a 52-week high of C$11.32.

Chemtrade Logistics Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 30th were paid a $0.055 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $0.66 annualized dividend and a yield of 5.92%. Chemtrade Logistics Income Fund’s payout ratio is currently 60.00%.

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.