Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Chemtrade Logistics Income Fund (TSE:CHE.UN)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$10.28 and traded as high as C$10.89. Chemtrade Logistics Income Fund shares last traded at C$10.84, with a volume of 69,371 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CHE.UN shares. CIBC decreased their price objective on shares of Chemtrade Logistics Income Fund from C$15.00 to C$13.00 in a report on Tuesday, December 10th. BMO Capital Markets boosted their price target on shares of Chemtrade Logistics Income Fund from C$12.00 to C$15.00 in a report on Tuesday, November 19th. Raymond James raised their price objective on Chemtrade Logistics Income Fund from C$13.00 to C$14.00 in a research note on Monday, November 18th. Finally, Desjardins boosted their target price on Chemtrade Logistics Income Fund from C$13.25 to C$14.00 and gave the company a “buy” rating in a research note on Thursday, October 17th.

Chemtrade Logistics Income Fund Price Performance

The business has a fifty day moving average of C$11.24 and a two-hundred day moving average of C$10.28. The company has a debt-to-equity ratio of 128.02, a quick ratio of 0.48 and a current ratio of 0.40. The firm has a market capitalization of C$1.26 billion, a price-to-earnings ratio of 9.85 and a beta of 1.50.

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.