Market Analysts see ChampionX Corporation [CHX] gaining to $32. Time to buy?

ChampionX Corporation [NASDAQ: CHX] loss -0.73% or -0.16 points to close at $21.86 with a heavy trading volume of 2497747 shares. The company report on August 11, 2022 that ChampionX Declares Quarterly Dividend.


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ChampionX Corporation (Nasdaq: CHX) announced today its Board of Directors has declared a regular quarterly dividend of $0.075 per share on the company’s common stock, par value $0.01 per share, to be paid on October 28, 2022 to shareholders of record on October 7, 2022.

It opened the trading session at $21.51, the shares rose to $22.025 and dropped to $21.09, the range by which the price of stock traded the whole day. The daily chart for CHX points out that the company has recorded -9.48% loss over the past six months. However, it is still -31.37% lower than its most recent low trading price.

If we look at the average trading volume of 1.97M shares, CHX reached to a volume of 2497747 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about ChampionX Corporation [CHX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CHX shares is $29.22 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CHX stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Benchmark Company have made an estimate for ChampionX Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 25, 2022. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $25 to $22. The new note on the price target was released on July 15, 2022, representing the official price target for ChampionX Corporation stock. Previously, the target price had yet another raise from $28 to $30, while Piper Sandler kept a Overweight rating on CHX stock.

The Average True Range (ATR) for ChampionX Corporation is set at 0.97, with the Price to Sales ratio for CHX stock in the period of the last 12 months amounting to 1.27. The Price to Book ratio for the last quarter was 2.46, with the Price to Cash per share for the same quarter was set at 0.84. Price to Free Cash Flow for CHX in the course of the last twelve months was 37.76 with Quick ratio for the last quarter at 1.10.

Trading performance analysis for CHX stock

ChampionX Corporation [CHX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.74. With this latest performance, CHX shares gained by 2.20% in over the last four-week period, additionally sinking by -9.48% over the last 6 months – not to mention a drop of -6.86% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CHX stock in for the last two-week period is set at 50.59, with the RSI for the last a single of trading hit 48.37, and the three-weeks RSI is set at 51.39 for ChampionX Corporation [CHX]. The present Moving Average for the last 50 days of trading for this stock 20.94, while it was recorded at 22.24 for the last single week of trading, and 22.12 for the last 200 days.

ChampionX Corporation [CHX]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and ChampionX Corporation [CHX] shares currently have an operating margin of +6.18 and a Gross Margin at +24.51. ChampionX Corporation’s Net Margin is presently recorded at +3.68.

Return on Equity for this stock inclined to 6.67, with Return on Assets sitting at 3.23.

ChampionX Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 2.00.

ChampionX Corporation [CHX]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CHX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ChampionX Corporation go to 57.60%.

An analysis of insider ownership at ChampionX Corporation [CHX]

There are presently around $4,508 million, in the hands of institutional investors. The top three institutional holders of CHX stocks are: BLACKROCK INC. with ownership of 23,915,267, which is approximately -2.392% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 20,140,275 shares of the stock with an approximate value of $440.27 million in CHX stocks shares; and GATES CAPITAL MANAGEMENT, INC., currently with $174.88 million in CHX stock with ownership of nearly 20.245% of the company’s market capitalization.

Positions in ChampionX Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 161 institutional holders increased their position in ChampionX Corporation [NASDAQ:CHX] by around 21,356,427 shares. Additionally, 139 investors decreased positions by around 15,843,116 shares, while 67 investors held positions by with 169,042,072 shares. The mentioned changes placed institutional holdings at 206,241,615 shares, according to the latest SEC report filing. CHX stock had 36 new institutional investments in for a total of 2,035,636 shares, while 37 institutional investors sold positions of 2,732,097 shares during the same period.

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