Chemtrade Logistics Income Fund (TSE:CHE.UN) Share Price Crosses Above 200 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%.

Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report)'s share price 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 changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Desjardins upped their target price on Chemtrade Logistics Income Fund from C$15.50 to C$16.00 and gave the stock a "buy" rating in a research report on Monday, August 18th. Raymond James Financial increased their price objective on Chemtrade Logistics Income Fund from C$15.00 to C$16.00 in a research report on Monday, August 18th. Finally, Scotiabank upgraded Chemtrade Logistics Income Fund from a "sector perform" rating to an "outperform" rating and increased their price objective for the company from C$13.50 to C$15.00 in a research report on Friday, August 15th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Chemtrade Logistics Income Fund presently has a consensus rating of "Moderate Buy" and a consensus price target of C$15.25.

Chemtrade Logistics Income Fund Trading Up 0.3%

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 fifty day moving average of C$12.09 and a 200-day moving average of C$10.90. The firm has a market capitalization of C$1.46 billion, a PE ratio of 12.07 and a beta of 1.46.

Chemtrade Logistics Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 29th will be given a $0.0575 dividend. This represents a c) annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, August 29th. Chemtrade Logistics Income Fund's dividend payout ratio (DPR) is currently 63.08%.

About Chemtrade Logistics Income Fund

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.