Layne Christensen Company (NASDAQ:LAYN) Lifted to “Hold” at ValuEngine

Layne Christensen Company (NASDAQ:LAYN) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Tuesday, July 18th.

Several other brokerages have also recently commented on LAYN. Zacks Investment Research cut Layne Christensen from a “hold” rating to a “strong sell” rating in a report on Friday, April 14th. Jefferies Group LLC set a $9.00 target price on Layne Christensen and gave the company a “hold” rating in a report on Saturday, June 10th. Finally, TheStreet cut Layne Christensen from a “c-” rating to a “d+” rating in a report on Thursday, April 13th. Four research analysts have rated the stock with a hold rating, Layne Christensen currently has a consensus rating of “Hold” and an average target price of $9.33.

Layne Christensen (NASDAQ LAYN) traded down 0.89% on Tuesday, reaching $10.02. 159,673 shares of the company traded hands. The firm has a 50 day moving average of $9.73 and a 200-day moving average of $8.99. Layne Christensen has a one year low of $6.98 and a one year high of $11.42. The stock’s market capitalization is $198.45 million.

Layne Christensen (NASDAQ:LAYN) last announced its earnings results on Thursday, June 8th. The construction company reported ($0.17) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.14. Layne Christensen had a negative return on equity of 31.94% and a negative net margin of 11.98%. The business had revenue of $111.51 million for the quarter, compared to analysts’ expectations of $111.25 million. During the same period in the prior year, the business posted ($0.45) earnings per share. The firm’s revenue was down 7.6% on a year-over-year basis. On average, analysts anticipate that Layne Christensen will post ($0.45) EPS for the current year.

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Institutional investors have recently bought and sold shares of the company. Alliancebernstein L.P. acquired a new position in Layne Christensen during the second quarter worth about $119,000. Nationwide Fund Advisors boosted its position in shares of Layne Christensen by 3.0% in the second quarter. Nationwide Fund Advisors now owns 14,565 shares of the construction company’s stock worth $128,000 after buying an additional 428 shares in the last quarter. Virtu KCG Holdings LLC purchased a new position in shares of Layne Christensen during the second quarter worth about $130,000. Wells Fargo & Company MN boosted its position in shares of Layne Christensen by 5.3% in the first quarter. Wells Fargo & Company MN now owns 17,000 shares of the construction company’s stock worth $151,000 after buying an additional 855 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Layne Christensen by 8.8% in the second quarter. Rhumbline Advisers now owns 21,629 shares of the construction company’s stock worth $190,000 after buying an additional 1,755 shares in the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.

About Layne Christensen

Layne Christensen Company (Layne) is a water management, construction and drilling company. The Company provides drilling solutions for water management, mineral services and specialty drilling needs. The Company operates through three segments: Water Resources, Inliner and Mineral Services. Its Water Resources segment provides its customers with solutions for various aspects of water supply system development and technology throughout the United States.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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