Chemtrade Logistics Income Fund (TSE:CHE.UN) Hits New 52-Week High – Here’s Why

Shares of Chemtrade Logistics Income Fund (TSE:CHE.UN) hit a new 52-week high on Wednesday . The company traded as high as C$12.03 and last traded at C$11.92, with a volume of 20795 shares trading hands. The stock had previously closed at C$11.97.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. National Bankshares increased their price target on 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 lifted their price target on Chemtrade Logistics Income Fund from C$12.00 to C$15.00 in a research report on Tuesday, November 19th. Raymond James upped their price objective on Chemtrade Logistics Income Fund from C$13.00 to C$14.00 in a research report on Monday, November 18th. Scotiabank lifted their target price on shares of Chemtrade Logistics Income Fund from C$10.50 to C$11.00 in a report on Monday, August 19th. Finally, CIBC raised their price target on shares of Chemtrade Logistics Income Fund from C$14.00 to C$15.00 in a research report on Monday, November 18th.

Chemtrade Logistics Income Fund Price Performance

The stock has a 50 day moving average price of C$11.16 and a two-hundred day moving average price of C$10.05. 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 market capitalization of C$1.40 billion, a price-to-earnings ratio of 10.88 and a beta of 1.50.

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.