Layne Christensen Company (NASDAQ:LAYN) has been given a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating.
Brokerages have set a 1-year consensus target price of $9.00 for the company and are expecting that the company will post ($0.18) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Layne Christensen an industry rank of 145 out of 265 based on the ratings given to its competitors.
Several equities analysts have recently issued reports on the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $9.00 price target on shares of Layne Christensen in a research report on Friday, August 4th. Zacks Investment Research lowered Layne Christensen from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, ValuEngine raised Layne Christensen from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th.
Institutional investors have recently bought and sold shares of the company. Royce & Associates LP raised its position in Layne Christensen by 3.6% in the second quarter. Royce & Associates LP now owns 1,953,571 shares of the construction company’s stock valued at $17,172,000 after buying an additional 68,599 shares in the last quarter. KBC Group NV raised its position in Layne Christensen by 1.1% in the second quarter. KBC Group NV now owns 228,653 shares of the construction company’s stock valued at $2,010,000 after buying an additional 2,515 shares in the last quarter. Rhumbline Advisers raised its position in Layne Christensen by 8.8% in the second quarter. Rhumbline Advisers now owns 21,629 shares of the construction company’s stock valued at $190,000 after buying an additional 1,755 shares in the last quarter. Credit Suisse AG raised its position in Layne Christensen by 2.6% in the first quarter. Credit Suisse AG now owns 723,400 shares of the construction company’s stock valued at $6,394,000 after buying an additional 18,046 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position 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 valued at $10,035,000 after buying an additional 96,511 shares in the last quarter. 91.02% of the stock is owned by hedge funds and other institutional investors.
Shares of Layne Christensen (LAYN) traded up 5.46% during midday trading on Thursday, hitting $10.23. 87,880 shares of the company were exchanged. The firm’s 50 day moving average price is $9.98 and its 200 day moving average price is $8.93. Layne Christensen has a one year low of $6.98 and a one year high of $11.42. The firm’s market capitalization is $202.61 million.
Layne Christensen (NASDAQ:LAYN) last posted its quarterly earnings results on Thursday, June 8th. The construction company reported ($0.17) earnings per share (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 quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.45) EPS. Analysts forecast that Layne Christensen will post ($0.45) EPS for the current fiscal year.
Layne Christensen Company Profile
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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