Why ChampionX Corporation (CHX) Stock Could See Much Higher Prices Ahead

ChampionX Corporation (NYSE: CHX) is 15.23% higher on its value in year-to-date trading and has touched a low of $2.89 and a high of $33.83 in the current 52-week trading range. The CHX stock was last observed hovering at around $16.80 in the last trading session, with the day’s gains setting it 0.83% off its average median price target of $18.00 for the next 12 months. It is also 16.05% off the consensus price target high of $21.00 offered by 14 analysts, but current levels are -76.3% lower than the price target low of $10.00 for the same period.

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Currently trading at $17.63, the stock is 21.39% and 44.33% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.82 million and changing 4.94% at the moment leaves the stock 78.62% off its SMA200. CHX registered -46.99% loss for a year compared to 6-month gain of 87.75%. The firm has a 50-day simple moving average (SMA 50) of $13.79 and a 200-day simple moving average (SMA200) of $10.43.

The stock witnessed a 23.55% loss in the last 1 month and extending the period to 3 months gives it a 113.96%, and is 19.53% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.02% over the week and 5.60% over the month.

ChampionX Corporation (CHX) has around 3000 employees, a market worth around $3.47B and $1.44B in sales. Fwd P/E is 46.39. Profit margin for the company is -52.50%. Distance from 52-week low is 510.03% and -47.89% from its 52-week high. The company has generated returns on investments over the last 12 months (5.90%).

ChampionX Corporation (CHX) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for ChampionX Corporation (CHX) is a “Buy”. 14 analysts offering their recommendations for the stock have an average rating of 1.80, where 2 rate it as a Hold and 0 think it is a “Overweight”. 12 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

ChampionX Corporation quarterly earnings per share for the current quarter are estimated at $0.04 with sales reaching $644.42M over the same period.The EPS is expected to shrink by -43.70% this year, but quarterly earnings will post 78.00% year-over-year. Quarterly sales are estimated to grow 160.10% in year-over-year returns.

ChampionX Corporation (CHX) Top Institutional Holders

382 institutions hold shares in ChampionX Corporation (CHX), with 1.36M shares held by insiders accounting for 0.68% while institutional investors hold 101.66% of the company’s shares. The shares outstanding are 199.81M, and float is at 198.47M with Short Float at 3.10%. Institutions hold 100.96% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 21.22 million shares valued at $169.55 million. The investor’s holdings represent 10.62% of the CHX Shares outstanding. As of Sep 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 18.82 million shares valued at $150.38 million to account for 9.42% of the shares outstanding. The other top investors are Boston Partners which holds 12.59 million shares representing 6.30% and valued at over $100.56 million, while Gates Capital Management, Inc. holds 5.46% of the shares totaling 10.92 million with a market value of $87.23 million.

ChampionX Corporation (CHX) Insider Activity

The most recent transaction is an insider purchase by Alderman Heidi S, the company’s Director. SEC filings show that Alderman Heidi S bought 1,000 shares of the company’s common stock on Aug 07 at a price of $10.24 per share for a total of $10240.0. Following the purchase, the insider now owns 1000.0 shares.

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