National Bank Financial Cuts Chemtrade Logistics Income Fund (TSE:CHE.UN) Price Target to C$7.00

Chemtrade Logistics Income Fund (TSE:CHE.UN) had its price objective lowered by National Bank Financial from C$11.00 to C$7.00 in a research report report published on Tuesday morning, BayStreet.CA reports. National Bank Financial currently has a sector perform rating on the stock.

Several other brokerages have also weighed in on CHE.UN. Raymond James set a C$12.00 target price on Chemtrade Logistics Income Fund and gave the stock a market perform rating in a research report on Thursday, March 12th. TD Securities cut their target price on Chemtrade Logistics Income Fund from C$12.50 to C$7.50 and set a buy rating on the stock in a research report on Friday, March 13th. BMO Capital Markets reaffirmed a market perform rating and issued a C$7.00 target price on shares of Chemtrade Logistics Income Fund in a research report on Thursday, March 12th. Royal Bank of Canada cut their target price on Chemtrade Logistics Income Fund from C$12.00 to C$11.00 and set a sector perform rating on the stock in a research report on Wednesday, January 29th. Finally, CIBC cut their target price on Chemtrade Logistics Income Fund from C$12.00 to C$11.00 in a research report on Monday, February 24th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Chemtrade Logistics Income Fund presently has an average rating of Hold and a consensus target price of C$9.50.

Shares of CHE.UN opened at C$5.03 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 0.46 and a debt-to-equity ratio of 203.06. The firm has a market capitalization of $413.93 million and a P/E ratio of -4.66. The stock’s fifty day simple moving average is C$7.24 and its 200 day simple moving average is C$9.93. Chemtrade Logistics Income Fund has a twelve month low of C$4.04 and a twelve month high of C$11.71.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 30th will be given a $0.05 dividend. This represents a $0.60 annualized dividend and a yield of 11.93%. The ex-dividend date of this dividend is Monday, March 30th. Chemtrade Logistics Income Fund’s dividend payout ratio (DPR) is presently -55.56%.

In related news, Senior Officer Rohit Bhardwaj acquired 12,000 shares of the business’s stock in a transaction on Monday, March 16th. The shares were bought at an average cost of C$4.09 per share, with a total value of C$49,080.00. Following the completion of the transaction, the insider now directly owns 79,000 shares of the company’s stock, valued at approximately C$323,110. Also, Senior Officer Leon Aarts acquired 3,000 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was bought at an average cost of C$8.71 per share, for a total transaction of C$26,136.00. Following the completion of the transaction, the insider now directly owns 74,585 shares of the company’s stock, valued at C$649,784.52. Insiders acquired 17,000 shares of company stock worth $91,558 over the last three months.

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.

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