ChampionX Corporation (NASDAQ: CHX) saw an upside of 1.73% to $36.52 after adding $0.62 on Wednesday. The 5-day average trading volume is 852,116 shares of the company’s common stock. It has gained $37.02 in the past week and touched a new high 2 times within the past 5 days. An average of 1,450,924 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,528,958.
CHX’s 1-month performance is 8.18% or $3.97 on its low of $32.31 reached on 07/10/23. The company’s shares have touched a 52-week low of $17.83 and high of $36.27, with the stock’s rally to the 52-week high happening on 08/09/23. YTD, CHX has achieved 25.97% or $7.51 and has reached a new high 18 times. However, the current price is up 0.69% from the 52-week high price.
Insider Transactions
CHX stock investors last saw insider trading activity on Aug 01. Bryant Deric D. most recently sold 18,771 shares at $35.39 per share on Aug 01. This transaction cost the insider $664,398. President & CEO, Somasundaram Sivasankaran, sold 13,883 shares at a price of $36.02 on Jul 25. Then, on Jul 24, Bryant Deric D. sold 173,705 shares at a price of $35.05 per share. This transaction amounted to $6,088,860.
Valuation Metrics
CHX stock has a beta of 2.59. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.84 while the price-to-book (PB) in the most recent quarter is 4.16, with the price to cash flow ratio at 16.93.
ChampionX Corporation’s quick ratio for the period ended June 29 was 1.10, with the current ratio over the same period at 1.80. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.34, while the total debt to equity was 0.35. In terms of profitability, the gross margin trailing 12 months is 28.20%. The trailing 12-month EBITDA margin is 16.15% while for the period ending June 29, ChampionX Corporation’s operating margin was 9.00%. The firm’s gross profit as reported stood at $898.66 million against revenue of $3.81 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 71.46% to $95.8 million, while revenue of $63.53 million was 33.68% off the previous quarter. Analysts expected CHX to announce $0.44 per share in earnings in its latest quarter, but it posted $0.49, representing a 11.40% surprise. EBITDA for the quarter stood at more than $179.41 million. CHX stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 1.62 billion, with total debt at $680.58 million. Shareholders hold equity totaling $196.58 million.
Let’s look briefly at ChampionX Corporation (CHX) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 73.66% to suggest the stock is trending Overbought, with historical volatility in this time period at 18.57%.
The stock’s 5-day moving average is $35.91, reflecting a +2.38% or $0.85 change from its current price. CHX is currently trading +7.10% above its 20-day SMA, +40.66% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +37.06% and SMA200 by+60.23%.
Stochastic %K and %D was 84.56% and 82.92% and the average true range (ATR) pointed at 0.99. The RSI (14) points at 72.31%, while the 14-day stochastic is at 85.47% with the period’s ATR at 1.00. The stock’s 9-day MACD Oscillator is pointing at 0.32 and 0.69 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for ChampionX Corporation (NASDAQ: CHX), CapitalOne launched coverage with an Overweight rating. Analysts offering their rating for CHX stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate CHX as a “sell,”, while 2 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 7 have offered a “buy” rating.
What is CHX’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $33.00 and a high of $42.00, with their median price target at $40.00. Looking at these predictions, the average price target given by analysts is for ChampionX Corporation (CHX) stock is $39.25.
