Desjardins Boosts Chemtrade Logistics Income Fund (TSE:CHE.UN) Price Target to C$16.00

Key Points

• Desjardins increased Chemtrade Logistics Income Fund's target price from C$15.50 to C$16.00, signaling a potential upside of 25.39% from the current stock price.
• Three other brokerages also raised their target prices for the stock, with National Bankshares setting a new target of C$17.00 and an "outperform" rating.
• The stock currently has a "Moderate Buy" average rating with a consensus price target of C$15.25 from analysts.

Chemtrade Logistics Income Fund (TSE:CHE.UN - Free Report) had its target price lifted by Desjardins from C$15.50 to C$16.00 in a research note released on Monday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts also recently commented on CHE.UN. Scotiabank upgraded Chemtrade Logistics Income Fund from a "sector perform" rating to an "outperform" rating and raised their target price for the company from C$13.50 to C$15.00 in a report on Friday, August 15th. CIBC boosted their target price on shares of Chemtrade Logistics Income Fund from C$10.50 to C$12.50 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. National Bankshares increased their price objective 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. Finally, Raymond James Financial boosted their target price on shares of Chemtrade Logistics Income Fund from C$15.00 to C$16.00 in a research report on Monday, August 18th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of C$15.25.

Chemtrade Logistics Income Fund Stock Up 0.2%

Shares of CHE.UN traded up C$0.02 during midday trading on Monday, reaching C$13.10. 160,926 shares of the company were exchanged, compared to its average volume of 268,396. The stock has a 50-day moving average price of C$11.36 and a 200-day moving average price of C$10.48. The company has a market cap of C$1.53 billion, a price-to-earnings ratio of 11.91 and a beta of 1.50. Chemtrade Logistics Income Fund has a 1-year low of C$8.50 and a 1-year high of C$13.18. The company has a current ratio of 0.40, a quick ratio of 0.48 and a debt-to-equity ratio of 128.02.

Chemtrade Logistics Income Fund Announces Dividend

The company also recently declared 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 5.3%. Chemtrade Logistics Income Fund's dividend payout ratio is currently 60.00%.

About Chemtrade Logistics Income Fund

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.