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

Chemtrade Logistics Income Fund (TSE:CHE.UN) was downgraded by 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 target price on the stock, up from their prior target price of C$15.00. Scotiabank’s price target would indicate a potential upside of 17.32% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Royal Bank Of Canada raised their price target on shares of Chemtrade Logistics Income Fund from C$14.00 to C$18.00 in a report on Thursday. BMO Capital Markets raised their target price on shares of Chemtrade Logistics Income Fund from C$15.00 to C$20.00 in a report on Thursday. Desjardins lifted their price objective on shares of Chemtrade Logistics Income Fund from C$15.50 to C$16.00 and gave the company a “buy” rating in a report on Monday, August 18th. Finally, Raymond James Financial raised Chemtrade Logistics Income Fund from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from C$16.00 to C$21.00 in a research report on Thursday. One 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$18.29.

Chemtrade Logistics Income Fund Stock Performance

Shares of TSE:CHE.UN traded down C$0.72 during midday trading on Friday, reaching C$14.49. 527,904 shares of the company traded hands, compared to its average volume of 265,295. The firm’s fifty day moving average price is C$13.40 and its two-hundred day moving average price is 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 12 month low of C$8.50 and a 12 month high of C$15.57. The firm has a market capitalization of C$1.68 billion, a price-to-earnings ratio of 15.09 and a beta of 1.31.

About Chemtrade Logistics Income Fund

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.