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

Shares of Chemtrade Logistics Income Fund (TSE:CHE.UN) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$10.52 and traded as high as C$10.65. Chemtrade Logistics Income Fund shares last traded at C$10.54, with a volume of 292,313 shares traded.

Wall Street Analyst Weigh In

CHE.UN has been the subject of several research reports. Raymond James raised their price objective on shares of Chemtrade Logistics Income Fund from C$13.00 to C$14.00 in a research report on Monday, November 18th. Desjardins raised their target price on shares of Chemtrade Logistics Income Fund from C$13.25 to C$14.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. BMO Capital Markets raised their target price on shares of Chemtrade Logistics Income Fund from C$12.00 to C$15.00 in a report on Tuesday, November 19th. Finally, CIBC lowered their target price on shares of Chemtrade Logistics Income Fund from C$15.00 to C$13.00 in a report on Tuesday, December 10th.

Chemtrade Logistics Income Fund Price Performance

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 stock has a market cap of C$1.23 billion, a price-to-earnings ratio of 9.58 and a beta of 1.50. The business’s 50-day simple moving average is C$10.98 and its two-hundred day simple moving average is C$10.52.

Chemtrade Logistics Income Fund Company Profile

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.