Layne Christensen Company (NASDAQ:LAYN) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Tuesday, July 18th.
Other equities research analysts have also issued reports about the company. Jefferies Group LLC set a $9.00 price objective on Layne Christensen and gave the stock a “hold” rating in a research note on Saturday, June 10th. TheStreet lowered Layne Christensen from a “c-” rating to a “d+” rating in a research note on Thursday, April 13th. Finally, Zacks Investment Research lowered Layne Christensen from a “hold” rating to a “strong sell” rating in a research note on Friday, April 14th. Four analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus target price of $9.33.
Shares of Layne Christensen (NASDAQ:LAYN) traded up 1.75% during trading on Tuesday, hitting $10.46. The stock had a trading volume of 47,484 shares. The firm’s market capitalization is $207.16 million. The stock’s 50-day moving average price is $9.32 and its 200 day moving average price is $8.97. Layne Christensen has a 1-year low of $6.98 and a 1-year high of $11.42.
Layne Christensen (NASDAQ:LAYN) last posted its quarterly earnings data on Thursday, June 8th. The construction company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.14. The firm had revenue of $111.51 million during the quarter, compared to analyst estimates 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 period in the prior year, the business posted ($0.45) EPS. On average, analysts anticipate that Layne Christensen will post ($0.45) earnings per share for the current year.
A number of large investors have recently modified their holdings of LAYN. Wells Fargo & Company MN raised its stake 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 during the last quarter. Rhumbline Advisers raised its stake 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 during the last quarter. Van ECK Associates Corp raised its stake in shares of Layne Christensen by 41.3% in the first quarter. Van ECK Associates Corp now owns 48,735 shares of the construction company’s stock worth $431,000 after buying an additional 14,239 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Layne Christensen by 7.9% in the first quarter. Bank of New York Mellon Corp now owns 84,752 shares of the construction company’s stock worth $750,000 after buying an additional 6,217 shares during the last quarter. Finally, Two Sigma Investments LP raised its position in shares of Layne Christensen by 673.8% in the fourth quarter. Two Sigma Investments LP now owns 82,819 shares of the construction company’s stock worth $900,000 after buying an additional 72,116 shares during the last quarter. Institutional investors and hedge funds 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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