Chemtrade Logistics Income Fund (TSE:CHE.UN) Reaches New 1-Year High - Still a Buy?

Key Points

• Chemtrade Logistics Income Fund (TSE:CHE.UN) reached a new 52-week high of C$13.14 with a recent trading price of C$13.08, showing significant market activity with 394,824 shares exchanged.
• Multiple analysts have raised their price targets for CHE.UN, with Scotiabank upgrading its rating from "sector perform" to "outperform" and increasing its target price to C$15.00.
• The company declared a monthly dividend of $0.0575 with an annual yield of 5.3%, indicating a payout ratio of 60% for investors.

Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report) shares hit a new 52-week high during trading on Friday . The company traded as high as C$13.14 and last traded at C$13.08, with a volume of 394824 shares. The stock had previously closed at C$12.90.

Analyst Ratings Changes

CHE.UN has been the subject of a number of recent research reports. Scotiabank raised Chemtrade Logistics Income Fund from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from C$13.50 to C$15.00 in a report on Friday, August 15th. National Bankshares increased their price target on Chemtrade Logistics Income Fund from C$16.50 to C$17.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Desjardins lifted their price target on Chemtrade Logistics Income Fund from C$15.50 to C$16.00 and gave the stock a "buy" rating in a report on Monday, August 18th. CIBC upped their price objective on Chemtrade Logistics Income Fund from C$10.50 to C$12.50 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Finally, Raymond James Financial raised their target price on Chemtrade Logistics Income Fund from C$15.00 to C$16.00 in a research report on Monday, August 18th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of C$15.25.

Chemtrade Logistics Income Fund Stock Performance

The stock has a market cap of C$1.52 billion, a PE ratio of 11.85 and a beta of 1.50. The company has a fifty day moving average price of C$11.48 and a 200 day moving average price of C$10.54. The company has a quick ratio of 0.48, a current ratio of 0.40 and a debt-to-equity ratio of 128.02.

Chemtrade Logistics Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 29th will be issued a dividend of $0.0575 per share. This represents a c) dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Thursday, July 31st. Chemtrade Logistics Income Fund's payout ratio is currently 60.00%.

Chemtrade Logistics Income Fund Company Profile

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.