Desjardins Forecasts Strong Price Appreciation for Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock

Key Points

• Desjardins raised Chemtrade Logistics Income Fund’s price target to C$18.50 from C$17.25 and maintained a “buy” rating, implying 12.12% upside from the prior close.
• Analyst sentiment is broadly positive: five analysts rate the stock a Buy and two rate it a Hold, producing a “Moderate Buy” consensus and an average target of C$19.56.
• The stock rose 0.8% to C$16.50, while the company reported quarterly EPS of C$0.31 on revenue of C$578.70 million, with a 7.85% net margin and 19.73% return on equity.

Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report) had its price target hoisted by equities researchers at Desjardins from C$17.25 to C$18.50 in a report issued on Friday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Desjardins' target price suggests a potential upside of 12.12% from the stock's previous close.

Other analysts also recently issued reports about the company. 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 for the company in a research report on Thursday, April 23rd. Royal Bank Of Canada boosted 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 research report on Wednesday, May 13th. Raymond James Financial raised Chemtrade Logistics Income Fund from a "market perform" rating to an "outperform" rating and raised their target price for the company from C$15.00 to C$21.00 in a research report on Tuesday, April 28th. Finally, Scotia lifted their target price on Chemtrade Logistics Income Fund from C$17.00 to C$19.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 14th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of C$19.56.

Chemtrade Logistics Income Fund Stock Up 0.8%

Chemtrade Logistics Income Fund stock traded up C$0.13 during midday trading on Friday, hitting C$16.50. 451,813 shares of the stock were exchanged, compared to its average volume of 341,528. Chemtrade Logistics Income Fund has a 52-week low of C$11.75 and a 52-week high of C$18.43. 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 business's 50-day moving average price is C$16.27 and its 200-day moving average price is C$16.17. The stock has a market capitalization of C$1.86 billion, a price-to-earnings ratio of 16.02 and a beta of 0.87.

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

About Chemtrade Logistics Income Fund

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source