Piper Sandler has recently reduced ChampionX Corp (CHX) stock to Neutral rating, as announced on January 8, 2024, according to Finviz. Earlier, on October 17, 2023, Barclays had raised the stock from a Equal Weight to Overweight, setting a price target of $42 for CHX stock. CapitalOne also initiated Overweight rating with a price target of $40. Additionally, Barclays reduced Equal Weight rating on October 6, 2022, with a target price of $28. The Benchmark Company analysts, in their report published on August 25, 2022, also initiated Buy rating and set a price target of $32 for ChampionX Corp’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
ChampionX Corp (CHX) Stock Trading Recap
On Wednesday, ChampionX Corp (CHX) stock saw a modest uptick, ending the day at $29.65 which represents a slight increase of $0.08 or 0.27% from the prior close of $29.57. The stock opened at $29.33 and touched a low of $29.27 during the day, reaching a high of $29.79. The volume of shares traded was 1.26 million falling short of the average volume of 1.65 million.
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CHX Stock Performance and Moving Averages
In recent trading, ChampionX Corp (CHX) stock price has shown some volatility, fluctuating -4.82% over the last five trades and -4.35% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by -14.43%, and it has plunged by -13.00% in the previous three months. Currently, CHX is trading at -4.36%, -3.19%, and -7.10% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, CHX, a Energy sector stock, is trading -25.78% below its 52-week high but remains 16.46% above its 52-week low. The Average True Range (ATR) (14 days) of 0.77 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
ChampionX Corp’s Profitability and Valuation Ratios
ChampionX Corp’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 13.35% and a profit margin of 8.66%, with a gross margin of -14.43%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, ChampionX Corp’s market capitalization stands at $5.65 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 18.12, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 14.75. Additionally, the Price-to-Sales Ratio is 1.53, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 3.24, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 0.79% of ChampionX Corp (CHX)’s shares, while financial institutions hold 94.27%.
Notable insider trades include O’Dell William Jr., See remarks at ChampionX Corp (CHX), who sold 27178 shares on Mar 28 ’24, at $36 each, totaling $0.98 million.
