Chemtrade Logistics Income Fund (TSE:CHE.UN) Reaches New 52-Week High – Time to Buy?

Chemtrade Logistics Income Fund (TSE:CHE.UN)’s share price reached a new 52-week high during trading on Friday . The company traded as high as C$11.43 and last traded at C$11.33, with a volume of 104409 shares. The stock had previously closed at C$11.09.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Desjardins boosted their price target on Chemtrade Logistics Income Fund from C$13.25 to C$14.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. National Bankshares raised their price target on shares of Chemtrade Logistics Income Fund from C$13.50 to C$14.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Scotiabank boosted their price objective on shares of Chemtrade Logistics Income Fund from C$10.50 to C$11.00 in a report on Monday, August 19th. BMO Capital Markets raised 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 report on Tuesday, September 24th. Finally, CIBC boosted their target price on shares of Chemtrade Logistics Income Fund from C$13.50 to C$14.00 in a research note on Friday, August 16th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$12.83.

Chemtrade Logistics Income Fund Price Performance

The company has a market capitalization of C$1.33 billion, a P/E ratio of 10.08 and a beta of 1.50. 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’s 50-day moving average is C$10.76 and its 200-day moving average is C$9.78.

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.