Chemtrade Logistics Income Fund (TSE:CHE.UN) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Chemtrade Logistics Income Fund shares crossed above their 200-day moving average, reaching C$16.43 before last trading at C$16.37 on volume of 638,224 shares.
• Analyst sentiment is generally positive: five analysts rate the stock a Buy and two rate it a Hold, resulting in a “Moderate Buy” consensus and an average price target of C$19.25.
• The company reported quarterly earnings of C$0.31 per share on revenue of C$578.70 million, with a 19.73% return on equity and a 7.85% net margin.

Shares of Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$16.17 and traded as high as C$16.43. Chemtrade Logistics Income Fund shares last traded at C$16.37, with a volume of 638,224 shares trading hands.

Wall Street Analyst Weigh In

CHE.UN has been the subject of a number of research analyst reports. Raymond James Financial raised Chemtrade Logistics Income Fund from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from C$15.00 to C$21.00 in a report on Tuesday, April 28th. BMO Capital Markets raised Chemtrade Logistics Income Fund from a "market perform" rating to an "outperform" rating and set a C$18.50 price target on the stock in a report on Thursday, April 23rd. Scotia increased their price objective on Chemtrade Logistics Income Fund from C$17.00 to C$19.00 and gave the company a "sector perform" rating in a research report on Thursday, May 14th. Finally, Royal Bank Of Canada lifted their price objective on Chemtrade Logistics Income Fund from C$18.00 to C$20.00 and gave the stock an "outperform" rating in a report on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Chemtrade Logistics Income Fund has an average rating of "Moderate Buy" and a consensus price target of C$19.25.

Chemtrade Logistics Income Fund Stock Down 0.2%

The company has a market cap of C$1.84 billion, a P/E ratio of 15.89 and a beta of 0.87. The company has a quick ratio of 0.47, a current ratio of 0.40 and a debt-to-equity ratio of 128.02. The company has a fifty day moving average of C$16.27 and a 200 day moving average of C$16.17.

Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported C$0.31 earnings per share for the quarter. The company had revenue of C$578.70 million for the quarter. Chemtrade Logistics Income Fund had a return on equity of 19.73% and a net margin of 7.85%. On average, research analysts anticipate that Chemtrade Logistics Income Fund will post 0.9919929 earnings per share for the current fiscal year.

Chemtrade Logistics Income Fund Company Profile

Chemtrade operates a diversified business providing industrial chemicals and services to customers in North America and around the world. Chemtrade is one of North America's largest suppliers of sulphuric acid, spent acid processing services, inorganic coagulants for water treatment, sodium chlorate, sodium nitrite and sodium hydrosulphite. Chemtrade is also one of the largest producers of high purity sulphuric acid for the semiconductor industry in North America. Chemtrade is a leading regional supplier of sulphur, chlor-alkali products, and zinc oxide.

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