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ChampionX (CHX) Gains As Market Dips: What You Should Know
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ChampionX (CHX - Free Report) closed the most recent trading day at $30.25, moving +1.41% from the previous trading session. This change outpaced the S&P 500's 0.08% loss on the day. Meanwhile, the Dow lost 0.34%, and the Nasdaq, a tech-heavy index, added 11.55%.
Prior to today's trading, shares of the oil and gas drilling technology company had gained 10.15% over the past month. This has outpaced the Construction sector's loss of 1.32% and the S&P 500's loss of 1.03% in that time.
Investors will be hoping for strength from ChampionX as it approaches its next earnings release. On that day, ChampionX is projected to report earnings of $0.40 per share, which would represent year-over-year growth of 53.85%. Our most recent consensus estimate is calling for quarterly revenue of $1.01 billion, up 22.24% from the year-ago period.
Investors should also note any recent changes to analyst estimates for ChampionX. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ChampionX currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that ChampionX has a Forward P/E ratio of 16.6 right now. This valuation marks a discount compared to its industry's average Forward P/E of 18.02.
Also, we should mention that CHX has a PEG ratio of 0.29. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Engineering - R and D Services stocks are, on average, holding a PEG ratio of 0.98 based on yesterday's closing prices.
The Engineering - R and D Services industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 23, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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ChampionX (CHX) Gains As Market Dips: What You Should Know
ChampionX (CHX - Free Report) closed the most recent trading day at $30.25, moving +1.41% from the previous trading session. This change outpaced the S&P 500's 0.08% loss on the day. Meanwhile, the Dow lost 0.34%, and the Nasdaq, a tech-heavy index, added 11.55%.
Prior to today's trading, shares of the oil and gas drilling technology company had gained 10.15% over the past month. This has outpaced the Construction sector's loss of 1.32% and the S&P 500's loss of 1.03% in that time.
Investors will be hoping for strength from ChampionX as it approaches its next earnings release. On that day, ChampionX is projected to report earnings of $0.40 per share, which would represent year-over-year growth of 53.85%. Our most recent consensus estimate is calling for quarterly revenue of $1.01 billion, up 22.24% from the year-ago period.
Investors should also note any recent changes to analyst estimates for ChampionX. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ChampionX currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that ChampionX has a Forward P/E ratio of 16.6 right now. This valuation marks a discount compared to its industry's average Forward P/E of 18.02.
Also, we should mention that CHX has a PEG ratio of 0.29. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Engineering - R and D Services stocks are, on average, holding a PEG ratio of 0.98 based on yesterday's closing prices.
The Engineering - R and D Services industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 23, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.