Chemtrade Logistics Income Fund (TSE:CHE.UN) Shares Pass Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Chemtrade Logistics Income Fund's shares exceeded their 200-day moving average, trading as high as C$13.16 and closing at C$13.00.
• Analysts have shown optimism, with a consensus rating of "Moderate Buy" and an average target price of C$15.25.
• The company recently declared a monthly dividend of $0.0575 per share, reflecting an annualized yield of 5.3%.

Shares of Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$10.83 and traded as high as C$13.16. Chemtrade Logistics Income Fund shares last traded at C$13.00, with a volume of 397,033 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CHE.UN shares. National Bankshares upped their target price on shares of 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. CIBC upped their target price on shares of 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. Raymond James Financial upped their target price on shares of Chemtrade Logistics Income Fund from C$15.00 to C$16.00 in a research note on Monday, August 18th. Desjardins raised their price objective on Chemtrade Logistics Income Fund from C$15.50 to C$16.00 and gave the stock a "buy" rating in a research note on Monday, August 18th. Finally, Scotiabank upgraded Chemtrade Logistics Income Fund from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from C$13.50 to C$15.00 in a research note on Friday, August 15th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Chemtrade Logistics Income Fund presently has an average rating of "Moderate Buy" and a consensus price target of C$15.25.

Chemtrade Logistics Income Fund Stock Performance

The company has a market capitalization of C$1.46 billion, a price-to-earnings ratio of 12.07 and a beta of 1.46. The firm's fifty day simple moving average is C$12.06 and its 200 day simple moving average is C$10.86. The company has a debt-to-equity ratio of 128.02, a current ratio of 0.40 and a quick ratio of 0.48.

Chemtrade Logistics Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 29th will be paid a dividend of $0.0575 per share. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date is Friday, August 29th. Chemtrade Logistics Income Fund's dividend payout ratio is currently 63.08%.

Chemtrade Logistics Income Fund Company Profile

Chemtrade Logistics Income Fund provides industrial chemicals and services to customers in North America and around the world. The company organized into four main operating segments: Sulphur Products and Performance Chemicals (SPPC), Water Solutions and Specialty Chemicals (WSSC), Electrochemicals, and Corporate.