Chemtrade Logistics Income Fund (TSE:CHE.UN) Upgraded by Raymond James Financial to Strong-Buy Rating

Raymond James Financial upgraded shares of Chemtrade Logistics Income Fund (TSE:CHE.UN) from an outperform rating to a strong-buy rating in a report published on Thursday morning,BayStreet.CA reports. Raymond James Financial currently has C$21.00 target price on the stock, up from their previous target price of C$16.00.

Several other analysts have also recently weighed in on CHE.UN. Royal Bank Of Canada raised their price objective on shares of Chemtrade Logistics Income Fund from C$14.00 to C$18.00 in a research report on Thursday. Scotiabank upgraded shares of Chemtrade Logistics Income Fund from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from C$13.50 to C$15.00 in a research report on Friday, August 15th. Finally, Desjardins raised their price target on Chemtrade Logistics Income Fund from C$15.50 to C$16.00 and gave the company a “buy” rating in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$17.07.

Chemtrade Logistics Income Fund Stock Up 0.2%

CHE.UN stock opened at C$15.21 on Thursday. The company has a current ratio of 0.40, a quick ratio of 0.48 and a debt-to-equity ratio of 128.02. The company’s 50 day moving average is C$13.40 and its 200 day moving average is C$11.99. The stock has a market cap of C$1.76 billion, a price-to-earnings ratio of 15.84 and a beta of 1.31. Chemtrade Logistics Income Fund has a 1-year low of C$8.50 and a 1-year high of C$15.57.

Chemtrade Logistics Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, October 31st. Investors of record on Friday, October 31st were issued a dividend of $0.0575 per share. The ex-dividend date of this dividend was Monday, September 29th. This represents a c) annualized dividend and a dividend yield of 4.5%. Chemtrade Logistics Income Fund’s dividend payout ratio (DPR) is currently 71.09%.

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.