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 target price trimmed by National Bank Financial from C$11.00 to C$7.00 in a research note published on Tuesday, BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

Other analysts also recently issued reports about the company. CIBC reduced their price objective on Chemtrade Logistics Income Fund from C$12.00 to C$11.00 in a research note on Monday, February 24th. TD Securities reduced their price objective on Chemtrade Logistics Income Fund from C$12.50 to C$7.50 and set a buy rating for the company in a research note on Friday, March 13th. BMO Capital Markets reaffirmed a market perform rating and set a C$7.00 price objective on shares of Chemtrade Logistics Income Fund in a research note on Thursday, March 12th. Royal Bank of Canada reduced their price objective on Chemtrade Logistics Income Fund from C$12.00 to C$11.00 and set a sector perform rating for the company in a research note on Wednesday, January 29th. Finally, Raymond James set a C$12.00 price objective on Chemtrade Logistics Income Fund and gave the company a market perform rating in a research note on Thursday, March 12th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of C$9.50.

CHE.UN opened at C$5.03 on Tuesday. The business has a 50 day moving average price of C$7.24 and a two-hundred day moving average price of C$9.93. The company has a quick ratio of 0.46, a current ratio of 1.35 and a debt-to-equity ratio of 203.06. The company has a market cap of $413.93 million and a PE ratio of -4.66. Chemtrade Logistics Income Fund has a 52 week low of C$4.04 and a 52 week high of C$11.71.

The firm also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 30th will be paid a dividend of $0.05 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.93%. The ex-dividend date is Monday, March 30th. Chemtrade Logistics Income Fund’s dividend payout ratio (DPR) is -55.56%.

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

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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Analyst Recommendations for Chemtrade Logistics Income Fund (TSE:CHE.UN)

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