ChampionX (NYSE:CHX) Now Covered by Analysts at Scotiabank

Scotiabank began coverage on shares of ChampionX (NYSE:CHX) in a research report report published on Tuesday, The Fly reports. The firm issued a sector outperform rating and a $12.00 price target on the stock.

Several other analysts also recently issued reports on the company. Zacks Investment Research upgraded ChampionX from a sell rating to a hold rating in a research report on Monday, August 17th. Credit Suisse Group began coverage on ChampionX in a research note on Friday, September 11th. They issued an outperform rating and a $13.00 target price for the company. Evercore ISI upgraded ChampionX from an in-line rating to an outperform rating and set a $16.00 target price for the company in a research note on Tuesday, September 8th. Stifel Nicolaus began coverage on ChampionX in a research note on Thursday, June 25th. They issued a buy rating and a $15.00 target price for the company. Finally, ValuEngine upgraded ChampionX from a hold rating to a buy rating in a research note on Thursday, July 2nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. ChampionX currently has an average rating of Buy and an average target price of $13.09.

Shares of NYSE:CHX traded up $0.12 on Tuesday, hitting $9.25. The company had a trading volume of 7,142 shares, compared to its average volume of 1,568,676. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.31 and a current ratio of 2.25. ChampionX has a 52-week low of $2.89 and a 52-week high of $34.80. The business has a 50 day moving average of $10.14. The firm has a market capitalization of $1.80 billion, a P/E ratio of -0.98 and a beta of 3.39.

ChampionX (NYSE:CHX) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.17). ChampionX had a negative net margin of 69.70% and a negative return on equity of 1.51%. The company had revenue of $298.91 million during the quarter, compared to analysts’ expectations of $177.56 million. During the same quarter in the prior year, the company earned $0.35 earnings per share. The firm’s revenue was down 2.4% compared to the same quarter last year. On average, research analysts predict that ChampionX will post -0.25 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the business. Yaupon Capital Management LP bought a new position in ChampionX during the 2nd quarter worth approximately $2,555,000. Sigma Planning Corp acquired a new stake in shares of ChampionX during the 2nd quarter worth approximately $205,000. First Trust Advisors LP acquired a new stake in shares of ChampionX during the 2nd quarter worth approximately $24,080,000. Strs Ohio acquired a new stake in ChampionX in the 2nd quarter valued at approximately $465,000. Finally, Ancora Advisors LLC acquired a new stake in ChampionX in the 2nd quarter valued at approximately $2,807,000. Institutional investors own 98.31% of the company’s stock.

About ChampionX

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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Analyst Recommendations for ChampionX (NYSE:CHX)

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