ChampionX Corporation (NASDAQ:CHX) finished Friday with an addition of $0.61 to close at $36.80, an upside of 1.67 percent. An average of 973,840 shares of common stock have been traded in the last five days. There was a gain of $1.02 in the past week, and it reached a new high 24 times over the past 12 months. The last 20 days have seen an average of 1,379,560 shares traded, while the 50-day average volume stands at 1,529,676.
CHX stock has increased by 8.17% in the last month. The company shares reached their 1-month lowest point of $33.14 on 07/14/23. With the stock rallying to its 52-week high on 08/09/23, shares of the company touched a low of $17.83 and a high of $37.02 in 52 weeks. It has reached a new high 18 times so far this year and achieved 26.94% or $7.81 in price. In spite of this, the price is down -0.59% from the 52-week high.
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Insider Transactions
CHX stock investors should be aware that ChampionX Corporation (CHX) stock had its last reported insider trading activity 11 days ago on Aug 01. In this transaction, the insider spent $664,398. President & CEO, Somasundaram Sivasankaran, disposed of 13,883 shares at a price of $36.02 on Jul 25. The insider now owns more than $500,124 worth of shares. Prior to that, Bryant Deric D. went on to Sale 173,705 shares at $35.05 each on Jul 24. An amount of $6,088,860 was transacted.
Valuation Metrics
ChampionX Corporation (CHX) has a trailing price-to-earnings (P/E) ratio of 29.82. The stock’s beta is 2.58. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.86, the price-to-book (PB) ratio at 4.19, and the price-to-cash flow ratio at 17.06.
The company has a payout ratio of 25.40%. The company’s most recent quarterly dividend payment was $0.0850 a share, without any change from last year. Its latest increase dividend $0.01 reported on Thursday February 16 2023.
Financial Health
The quick ratio of ChampionX Corporation for the three months ended June 29 was 1.10, and the current ratio was 1.80, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.34 and a total debt to equity ratio of 0.35 for the quarter ending June 29. ChampionX Corporation’s EBITDA margin for the year ending June 29 is 16.15%, while its operating margin for the same period stands at 9.00%. Its gross profit as reported stood at $898.66 million compared to revenue of $3.81 billion.
Earnings Surprise
For the three-month period that ended June 29, ChampionX Corporation had $595.17 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $95.8 million in the quarter, while revenues of $63.53 million were grew 71.46%. The analyst consensus anticipated ChampionX Corporation’s latest quarter earnings to come in at $0.44 per share, but it turned out to be $0.49, a 11.40% surprise. For the quarter, EBITDA amounted to $179.41 million. Shareholders own equity worth $196.58 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at ChampionX Corporation (CHX) price momentum. RSI 9-day as of the close on 11 August was 73.91%, suggesting the stock is Overbought, with historical volatility in this time frame at 13.37%.
As of today, CHX’s price is $36.21 +2.85% or $1.02 from its 5-day moving average. CHX is currently trading +8.11% higher than its 20-day SMA and +39.87% higher than its 100-day SMA. However, the stock’s current price level is +45.68% above the SMA50 and +52.13% above the SMA200.
The stochastic %K and %D were 84.40% and 83.34%, respectively, and the average true range (ATR) was 0.95. With the 14-day stochastic at 93.85% and the average true range at 0.97, the RSI (14) stands at 72.49%. The stock has reached 0.45 on the 9-day MACD Oscillator while the 14-day reading was at 0.89.
Analyst Ratings
CapitalOne launched coverage on ChampionX Corporation (NASDAQ: CHX) in its analyst report released on July 14, 2023. The firm assigned the stock an Overweight rating. The consensus rating for ChampionX Corporation (CHX) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell CHX, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 7 others rate it as a “buy”.
What is CHX’s price target for the next 12 months?
Analysts predict a range of price targets between $33.00 and $42.00, with a median target of $40.00. Taking a look at these predictions, the average price target given by analysts for ChampionX Corporation (CHX) stock is $39.25.
