Piper Sandler Lowers ChampionX (NASDAQ:CHX) Price Target to $33.00

ChampionX (NASDAQ:CHX) had its target price dropped by stock analysts at Piper Sandler from $40.00 to $33.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price suggests a potential downside of 4.40% from the stock’s current price.

A number of other research firms have also recently issued reports on CHX. Citigroup lifted their target price on ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Barclays lifted their price objective on ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.00.

ChampionX Stock Up 1.7 %

CHX opened at $34.52 on Monday. ChampionX has a fifty-two week low of $25.46 and a fifty-two week high of $39.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.83. The company has a market capitalization of $6.57 billion, a P/E ratio of 18.76, a P/E/G ratio of 1.36 and a beta of 2.41. The stock has a fifty day moving average of $32.63 and a 200-day moving average of $32.07.

ChampionX (NASDAQ:CHX) last posted its earnings results on Wednesday, April 24th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. The company had revenue of $922.14 million during the quarter, compared to the consensus estimate of $922.13 million. ChampionX had a return on equity of 21.42% and a net margin of 9.74%. On average, equities analysts expect that ChampionX will post 1.92 EPS for the current year.

Institutional Trading of ChampionX

A number of institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new stake in shares of ChampionX in the 4th quarter valued at about $26,000. Allspring Global Investments Holdings LLC bought a new position in shares of ChampionX during the 1st quarter valued at about $27,000. Rise Advisors LLC bought a new position in shares of ChampionX during the 1st quarter valued at about $35,000. Quadrant Capital Group LLC increased its position in shares of ChampionX by 37.6% during the 4th quarter. Quadrant Capital Group LLC now owns 3,041 shares of the company’s stock valued at $89,000 after purchasing an additional 831 shares during the last quarter. Finally, Principal Securities Inc. bought a new position in shares of ChampionX during the 4th quarter valued at about $91,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

ChampionX Company Profile

ChampionX Corporation provides chemistry solutions, artificial lift systems, and engineered equipment and technologies to oil and gas companies worldwide. The company operates through four segments: Production Chemical Technologies, Production & Automation Technologies, Drilling Technologies, and Reservoir Chemical Technologies.