Chemtrade Logistics Income Fund (TSE:CHE.UN) Given New C$7.50 Price Target at CIBC

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Chemtrade Logistics Income Fund (TSE:CHE.UN) had its target price raised by CIBC from C$7.00 to C$7.50 in a research report sent to investors on Monday morning, BayStreet.CA reports.

A number of other brokerages have also issued reports on CHE.UN. Royal Bank of Canada lifted their target price on Chemtrade Logistics Income Fund from C$6.00 to C$7.00 and gave the company a sector perform rating in a research report on Monday. National Bank Financial boosted their price target on Chemtrade Logistics Income Fund from C$5.75 to C$6.25 and gave the stock a sector perform rating in a research report on Monday. BMO Capital Markets boosted their price target on Chemtrade Logistics Income Fund from C$7.00 to C$7.75 in a research report on Monday. Finally, TD Securities lifted their target price on Chemtrade Logistics Income Fund from C$6.00 to C$6.50 and gave the stock a hold rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating, The company currently has an average rating of Hold and an average price target of C$7.33.

TSE CHE.UN opened at C$6.11 on Monday. The firm has a market cap of $565.79 million and a P/E ratio of -3.36. The company has a debt-to-equity ratio of 194.99, a current ratio of 1.96 and a quick ratio of 0.77. The stock’s 50-day moving average is C$5.41 and its 200-day moving average is C$5.89. Chemtrade Logistics Income Fund has a one year low of C$3.26 and a one year high of C$11.71.

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 31st will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, July 30th. This represents a $0.60 annualized dividend and a dividend yield of 9.82%. Chemtrade Logistics Income Fund’s dividend payout ratio is currently -32.97%.

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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