Layne Christensen Company (LAYN) Upgraded at ValuEngine

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

A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research raised Layne Christensen from a “strong sell” rating to a “hold” rating and set a $10.00 price target for the company in a report on Saturday, June 10th. TheStreet cut Layne Christensen from a “c-” rating to a “d+” rating in a report on Thursday, April 13th. Finally, Jefferies Group LLC set a $9.00 price target on Layne Christensen and gave the company a “hold” rating in a report on Saturday, June 10th. Four analysts have rated the stock with a hold rating, Layne Christensen has an average rating of “Hold” and a consensus price target of $9.33.

Shares of Layne Christensen (NASDAQ:LAYN) traded up 5.22% on Tuesday, reaching $10.07. The company had a trading volume of 437,562 shares. Layne Christensen has a 12 month low of $6.98 and a 12 month high of $11.42. The company’s 50-day moving average is $8.04 and its 200 day moving average is $9.16. The firm’s market capitalization is $199.44 million.

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

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A number of large investors have recently added to or reduced their stakes in LAYN. Parametric Portfolio Associates LLC boosted its stake in Layne Christensen by 779.7% in the first quarter. Parametric Portfolio Associates LLC now owns 447,331 shares of the construction company’s stock worth $3,954,000 after buying an additional 396,481 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Layne Christensen during the fourth quarter worth $2,096,000. Renaissance Technologies LLC boosted its stake in Layne Christensen by 27.1% in the fourth quarter. Renaissance Technologies LLC now owns 694,054 shares of the construction company’s stock worth $7,544,000 after buying an additional 147,854 shares in the last quarter. Royce & Associates LP boosted its stake in Layne Christensen by 5.8% in the first quarter. Royce & Associates LP now owns 1,884,972 shares of the construction company’s stock worth $16,663,000 after buying an additional 103,443 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Layne Christensen by 9.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,135,219 shares of the construction company’s stock worth $10,035,000 after buying an additional 96,511 shares in the last quarter. 92.31% of the stock is owned by hedge funds and other institutional investors.

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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