The stock of ChampionX Corporation (NASDAQ:CHX) decreased by -$0.01 on Friday to finish at $35.30, down -0.03 percent. The last five days have seen an average of 913,700 shares of common stock traded. 18 times new highs were reached in the current year, with a gain of $6.31. The average number of shares traded over the last 20 days was 1,002,580, while the average volume over the last 50 days totaled 1,463,364.
CHX stock appreciated 4.84% since last month. On 07/27/23, the company’s shares reached a one-month low of $33.44. The stock touched a high of $37.02 on 08/09/23, after rallying from a low of $17.83 in 52 weeks. The price of CHX stock has risen by 21.77% or $6.31 this year, reaching a new high 18 times. Still, the stock price is down -4.65% 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 27 days ago on Aug 01. On Aug 01, Bryant Deric D. sold 18,771 shares at $35.39 each. This transaction resulted in the insider making $664,398. On Jul 25, Somasundaram Sivasankaran sold 13,883 shares at a price of US$36.02. After the transaction, the insider now owns 455,499 shares. Bryant Deric D. had earlier sold 173,705 shares on Jul 24 for $35.05 a share. The transaction was completed for $6,088,860.
Valuation Metrics
ChampionX Corporation (CHX) has a trailing price-to-earnings (P/E) ratio of 28.61. Beta for the stock is 2.56. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.79, the price-to-book (PB) ratio of 4.02, and the price-to-cash flow ratio of 14.34.
Company paid $0.0850 per share in dividends, remained unchanged from $0.0850 last year. A $0.01 dividend increase was reported on Thursday February 16 2023.
Financial Health
For the three months ended June 29, ChampionX Corporation’s quick ratio was 1.10, while its current ratio was 1.80, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.34, and the total debt to equity ratio is 0.35. As far as profitability goes, gross margin for the trailing twelve months is 28.20% percent. ChampionX Corporation’s EBITDA margin for the year ended June 29 was 16.15%, whereas its operating margin stood at 9.00% for the same period. Based on annual data, it had gross profit of $898.66 million and revenue of $3.81 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. CHX’s return on assets (ROA) during the last 12 months has been 7.40%. There was a 9.10% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 14.70%.
Earnings Surprise
According to ChampionX Corporation’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $926.6 million, while revenues fell by -0.64% to $948.35 million. It was predicted that ChampionX Corporation’s quarterly earnings would be $0.49, but it ended up being $0.44, beating the consensus by 11.40%. EBITDA was $179.41 million for the quarter. At the end of ChampionX Corporation’s most recent quarter ended June 29, its liabilities totaled 1.62 billion, while its total debt was $680.58 million. Equity owned by shareholders amounts to $196.58 million.
Technical Picture
Here’s a quick look at ChampionX Corporation’s (CHX) price momentum from a technical perspective. As of 25 August, the RSI 9-day stood at 48.07%, suggesting the stock is Neutral, with a 14.57% historical volatility rate.
The stochastic %K and %D were 36.54% and 36.37% respectively, while the average true range (ATR) was 0.92. Based on the 14-day stochastic reading of 33.85%, the RSI (14) reading is 53.96%. On the 9-day MACD Oscillator, the stock is at -0.01, and the 14-day reading is at -0.35.
Analyst Ratings
In its analyst report released on July 14, 2023, CapitalOne began covering ChampionX Corporation (NASDAQ: CHX). The stock was rated as an Overweight by the brokerage firm. Analysts have assigned ChampionX Corporation (CHX) an Overweight rating. CHX is a stock that is recommended for selling by 0 brokerage firms, while 2 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 7 others recommend it as a buy.
What is CHX’s price target for the next 12 months?
The current consensus forecast for the stock is between $33.00 and $42.00, with a median target price of $40.00. In analyzing these forecasts, the average price target given by analysts for ChampionX Corporation (CHX) is $39.25.
