Scotiabank began coverage on shares of ChampionX (NYSE:CHX) in a research report report published on Tuesday, The Fly reports. The brokerage issued a sector outperform rating and a $12.00 price objective on the stock.
A number of other analysts have also recently issued reports on the company. Bank of America started coverage on ChampionX in a research report on Monday, June 22nd. They set a buy rating and a $12.00 price objective for the company. Piper Sandler raised their target price on ChampionX from $10.50 to $12.60 and gave the company a neutral rating in a report on Monday, August 10th. Evercore ISI upgraded ChampionX from an in-line rating to an outperform rating and set a $16.00 price objective on the stock in a research note on Tuesday, September 8th. ValuEngine raised ChampionX from a hold rating to a buy rating in a research report on Thursday, July 2nd. Finally, Zacks Investment Research raised ChampionX from a sell rating to a hold rating in a report on Monday, August 17th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. ChampionX presently has a consensus rating of Buy and an average price target of $13.09.
Shares of ChampionX stock traded up $0.12 during midday trading on Tuesday, hitting $9.25. The company’s stock had a trading volume of 7,142 shares, compared to its average volume of 1,568,676. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -0.98 and a beta of 3.39. The company’s 50-day simple moving average is $10.14. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.25 and a quick ratio of 1.31. ChampionX has a 1-year low of $2.89 and a 1-year high of $34.80.
ChampionX (NYSE:CHX) last issued its earnings results on Wednesday, August 5th. The company reported ($0.43) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.17). The business had revenue of $298.91 million during the quarter, compared to analyst estimates of $177.56 million. ChampionX had a negative return on equity of 1.51% and a negative net margin of 69.70%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the business earned $0.35 EPS. On average, analysts forecast that ChampionX will post -0.25 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in CHX. American Research & Management Co. acquired a new position in shares of ChampionX in the 2nd quarter worth approximately $25,000. IFP Advisors Inc acquired a new position in shares of ChampionX in the 2nd quarter worth approximately $25,000. Glenmede Trust Co. NA acquired a new position in shares of ChampionX in the 2nd quarter worth approximately $25,000. Endurance Wealth Management Inc. acquired a new position in shares of ChampionX in the 2nd quarter worth approximately $27,000. Finally, First Horizon Advisors Inc. acquired a new position in shares of ChampionX in the 2nd quarter worth approximately $28,000. 98.31% of the stock is currently owned by institutional investors and hedge funds.
ChampionX Company Profile
As of June 3, 2020, ChampionX Holding Inc was acquired by Apergy Corporation. Championx Holding Inc engages in upstream business. The company offers technology-driven chemistry programs and value-enabling solutions and services to the global upstream oil and natural gas industry. It provides reservoir management, onshore and offshore production, midstream management, and water capabilities.
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