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

Key Points

• Chemtrade Logistics Income Fund's stock price surpassed its 200-day moving average of C$10.35, reaching a high of C$11.30 during trading, indicating potential upward momentum.
• Several analysts have upgraded their price targets for the stock, with estimates ranging from C$12.50 to C$17.00, and a consensus rating of "Moderate Buy" with an average price target of C$14.33.
• The company declared a monthly dividend of $0.0575 per share, representing a dividend yield of 6.2% and a payout ratio of 60.00%.

Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$10.35 and traded as high as C$11.30. Chemtrade Logistics Income Fund shares last traded at C$11.17, with a volume of 257,725 shares.

Analyst Upgrades and Downgrades

CHE.UN has been the topic of several recent analyst reports. Raymond James Financial boosted their price objective on shares of Chemtrade Logistics Income Fund from C$14.00 to C$15.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. CIBC raised 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 report on Thursday, May 22nd. Desjardins lifted their target price on Chemtrade Logistics Income Fund from C$15.00 to C$15.50 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Finally, 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 note on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Chemtrade Logistics Income Fund currently has a consensus rating of "Moderate Buy" and an average price target of C$14.33.

Chemtrade Logistics Income Fund Trading Down 0.4%

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 company has a market cap of C$1.30 billion, a price-to-earnings ratio of 10.15 and a beta of 1.50. The business's fifty day moving average price is C$11.15 and its 200 day moving average price is C$10.35.

Chemtrade Logistics Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 29th will be given a dividend of $0.0575 per share. The ex-dividend date is Thursday, July 31st. This represents a c) annualized dividend and a dividend yield of 6.2%. Chemtrade Logistics Income Fund's dividend payout ratio is 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.

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