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.
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