Chemtrade Logistics Income Fund (TSE:CHE.UN) Downgraded to “Sector Perform” Rating by Scotiabank

Chemtrade Logistics Income Fund (TSE:CHE.UN) was downgraded by stock analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a research report issued on Friday,BayStreet.CA reports. They currently have a C$17.00 price objective on the stock, up from their prior price objective of C$15.00. Scotiabank’s price objective indicates a potential upside of 17.32% from the stock’s previous close.

A number of other brokerages have also issued reports on CHE.UN. BMO Capital Markets increased their price target on Chemtrade Logistics Income Fund from C$15.00 to C$20.00 in a research note on Thursday. Royal Bank Of Canada boosted their target price on Chemtrade Logistics Income Fund from C$14.00 to C$18.00 in a research note on Thursday. Raymond James Financial raised Chemtrade Logistics Income Fund from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from C$16.00 to C$21.00 in a research note on Thursday. Finally, Desjardins increased their price objective on Chemtrade Logistics Income Fund from C$15.50 to C$16.00 and gave the stock a “buy” rating in a report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Chemtrade Logistics Income Fund currently has an average rating of “Moderate Buy” and an average price target of C$18.29.

Chemtrade Logistics Income Fund Stock Performance

TSE:CHE.UN traded down C$0.72 during trading hours on Friday, reaching C$14.49. 527,904 shares of the stock were exchanged, compared to its average volume of 265,295. The firm has a 50 day simple moving average of C$13.40 and a 200-day simple moving average of C$11.99. The company has a quick ratio of 0.48, a current ratio of 0.40 and a debt-to-equity ratio of 128.02. Chemtrade Logistics Income Fund has a 52 week low of C$8.50 and a 52 week high of C$15.57. The stock has a market capitalization of C$1.68 billion, a P/E ratio of 15.09 and a beta of 1.31.

Chemtrade Logistics Income Fund Company Profile

Chemtrade Logistics Income Fund provides industrial chemicals and services to customers in North America and around the world. The company organized into four main operating segments: Sulphur Products and Performance Chemicals (SPPC), Water Solutions and Specialty Chemicals (WSSC), Electrochemicals, and Corporate.