ChampionX Corporation (NASDAQ:CHX) currently has a daily average trading volume of 1.47M but it saw 804864 shares traded on Thursday. With a market cap of 5.38B USD, stock’s current market price of $26.64 came falling about -2.84 while comparing to the previous closing price of $27.42. In past 52 weeks, the stock remained buoying in the range of price level as high as $33.65 and as low as $16.64. In the recent trading on the day, stock has struck highest price mark of $27.11 while lowest mark touched by it was $26.36.
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Taking a look at 20-day trading activity of ChampionX Corporation (CHX) gives us an average price of $26.77, while its current price level is -20.83% below from 52-week high level whereas it is 60.10% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $26.93 while that of 200 days or SMA-200 reads an average of $27.08. A closer look into the stock’s movement over the week reveals that its volatility is standing at 3.04% during that period while stretching the period over a month that increases to 3.53%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 47.04 which implies that the stock is in neutral territory.
ChampionX Corporation (CHX)’s stock is currently under the radar of 9 analysts who are in consensus at a 12-month price target range of between $32.00 and $40.00 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $32.00 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $40.00. Average price target assigned by them is $35.56 which highlights an upside potential of 25.08% for the stock over that period. And to attain the median price target of $34.00 assigned by those analysts, stock has to add about 21.65% of value to its current levels.
Data by FactSet Research shows that 9 analysts have issued their ratings for the stock. 0 of them are in opinions that stock is a Sell, while 0 are advising it as an Overweight. 7 analysts suggested the investors to Buy the stock while 2 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Buy for the stock and that issued by Wall Street to investors is Strong Buy.
Over the week, CHX’s stock price is moving -3.83% down while it is -2.02% when we observe its performance for the past one month. Year-to-date it is -8.11% down and over the past year, the stock is showing an upside performance of 21.98%.
The latest quarterly earnings report issued by the company was for quarter ended 3/30/2023, when its quarterly earnings per share (EPS) of $0.36 beat the consensus estimate of $0.35 for the same. The company is expected to be releasing its next quarterly report in 07/26/2023, for which analysts forecasted an EPS of $0.44 while estimate for next year EPS is $1.9. For CHX, analysts are forecasting an EPS-growth rate of 50.80% for current year and estimate for EPS growth in next year is 25.80%. In next quarter, company is expected to be making quarterly sales of $1.02 billion as analysts are expecting the sales for current fiscal year at $4.01 billion and seeing the company making $4.31 billion in sales next year. Moreover, analysts are in estimates of $985.11 million for current-quarter revenue.
Currently, ChampionX Corporation’s total number of outstanding shares is 198.29M with 0.81% of that held by the insiders while 101.41% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at 8.90% and return on equity (ROE) at 10.50%. It has a price to earnings ratio (P/E ratio) of 30.00 while having a 11.14 of forward P/E ratio. Stock’s beta reads 2.55. Stock has a price to book (P/B) ratio of 3.13 while price to sale or P/S ratio amounts to 1.38. Its return on asset (ROA) is 5.40% on average.
A filing at the U.S. Securities and Exchange Commission revealed that iShares Core S&P Mid Cap ETF came shrinking its share ownership by 0.36% in the ChampionX Corporation (CHX) increasing its stake to 3.13% with control over 22144.0 shares in the company. As per SEC documents, iShares Core S&P Mid Cap ETF sought 6,198,513 of company’s common stock of worth $167.86 million as per recent closing price of the stock. iShares Core S&P Mid Cap ETF is not the only institutional holder which restructured its stake in ChampionX Corporation, as Vanguard Total Stock Market ETF picked 6,154,251 shares of worth $166.66 million to bring its holdings to a total of 2558.0 shares. In the most recent quarter, Vanguard Small Cap Index Fund came cutting its stake by -0.02% in the company and now holds 5.2 million or 2.63% of the company’s stake having worth of about 140.72 million.
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