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ChampionX (CHX) Outpaces Stock Market Gains: What You Should Know
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ChampionX (CHX - Free Report) closed the most recent trading day at $32.43, moving +1.34% from the previous trading session. This change outpaced the S&P 500's 1.1% gain on the day. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 6.59%.
Coming into today, shares of the oil and gas drilling technology company had gained 14.12% in the past month. In that same time, the Construction sector gained 7.18%, while the S&P 500 gained 4.58%.
Investors will be hoping for strength from ChampionX as it approaches its next earnings release, which is expected to be February 1, 2023. The company is expected to report EPS of $0.39, up 50% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.01 billion, up 22.24% from the year-ago period.
It is also important to note the recent changes to analyst estimates for ChampionX. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.48% lower within the past month. ChampionX is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, ChampionX is holding a Forward P/E ratio of 18.08. This represents a discount compared to its industry's average Forward P/E of 20.13.
We can also see that CHX currently has a PEG ratio of 0.41. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Engineering - R and D Services was holding an average PEG ratio of 0.96 at yesterday's closing price.
The Engineering - R and D Services industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 33, which puts it in the top 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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ChampionX (CHX) Outpaces Stock Market Gains: What You Should Know
ChampionX (CHX - Free Report) closed the most recent trading day at $32.43, moving +1.34% from the previous trading session. This change outpaced the S&P 500's 1.1% gain on the day. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 6.59%.
Coming into today, shares of the oil and gas drilling technology company had gained 14.12% in the past month. In that same time, the Construction sector gained 7.18%, while the S&P 500 gained 4.58%.
Investors will be hoping for strength from ChampionX as it approaches its next earnings release, which is expected to be February 1, 2023. The company is expected to report EPS of $0.39, up 50% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.01 billion, up 22.24% from the year-ago period.
It is also important to note the recent changes to analyst estimates for ChampionX. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.48% lower within the past month. ChampionX is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, ChampionX is holding a Forward P/E ratio of 18.08. This represents a discount compared to its industry's average Forward P/E of 20.13.
We can also see that CHX currently has a PEG ratio of 0.41. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Engineering - R and D Services was holding an average PEG ratio of 0.96 at yesterday's closing price.
The Engineering - R and D Services industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 33, which puts it in the top 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.