BMO Capital Markets Downgrades Chemtrade Logistics Income Fund (TSE:CHE.UN) to Market Perform

Chemtrade Logistics Income Fund (TSE:CHE.UN) was downgraded by equities research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report issued on Wednesday,BayStreet.CA reports. They presently have a C$18.50 price objective on the stock. BMO Capital Markets’ price objective suggests a potential upside of 21.15% from the stock’s previous close.

Several other research analysts also recently weighed in on CHE.UN. Raymond James Financial downgraded Chemtrade Logistics Income Fund from a “strong-buy” rating to a “market perform” rating and cut their price target for the company from C$21.00 to C$15.00 in a report on Tuesday. National Bank Financial boosted their price target on Chemtrade Logistics Income Fund from C$18.00 to C$23.50 and gave the company an “outperform” rating in a report on Monday. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$18.14.

Chemtrade Logistics Income Fund Price Performance

Shares of Chemtrade Logistics Income Fund stock traded up C$0.77 during trading on Wednesday, hitting C$15.27. 947,728 shares of the company were exchanged, compared to its average volume of 373,530. 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 fifty-two week low of C$9.14 and a fifty-two week high of C$17.96. The stock has a market capitalization of C$1.71 billion, a price-to-earnings ratio of 12.52 and a beta of 0.56. The firm has a 50 day moving average price of C$15.81 and a 200 day moving average price of C$14.81.

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. 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.