Chemtrade Logistics Income Fund (TSE:CHE.UN) Sets New 52-Week High – Still a Buy?

Chemtrade Logistics Income Fund (TSE:CHE.UN) hit a new 52-week high on Tuesday . The company traded as high as C$16.50 and last traded at C$16.49, with a volume of 13491 shares trading hands. The stock had previously closed at C$16.37.

Wall Street Analyst Weigh In

CHE.UN has been the topic of a number of recent analyst reports. BMO Capital Markets cut their price objective on shares of Chemtrade Logistics Income Fund from C$20.00 to C$18.50 and set an “outperform” rating on the stock in a research note on Friday, January 9th. National Bank Financial raised their price objective on shares of Chemtrade Logistics Income Fund from C$17.50 to C$18.00 and gave the company an “outperform” rating in a research note on Monday, January 19th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$18.21.

Chemtrade Logistics Income Fund Price Performance

The firm has a market cap of C$1.87 billion, a P/E ratio of 13.65 and a beta of 0.56. The company has a 50 day moving average of C$15.70 and a two-hundred day moving average of C$14.67. 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 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. It generates maximum revenue from Electrochemicals segment. Chemtrade operates in Canada, the United States, and South America of which maximum revenue comes from the United States. SPPC markets, remove and produces merchant, regenerated and ultra-pure sulphuric acid, liquid sulphur dioxide, sodium hydrosulfite and provides other processing services.