ValuEngine upgraded shares of Layne Christensen (NASDAQ:LAYN) from a sell rating to a hold rating in a research note released on Wednesday.
LAYN has been the subject of a number of other reports. Zacks Investment Research cut Layne Christensen from a hold rating to a sell rating in a research note on Monday, December 11th. BidaskClub upgraded Layne Christensen from a hold rating to a buy rating in a research note on Wednesday, December 20th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Layne Christensen has an average rating of Hold and a consensus target price of $11.00.
Shares of Layne Christensen (NASDAQ LAYN) opened at $16.14 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 3.05. Layne Christensen has a 12 month low of $6.98 and a 12 month high of $16.27. The company has a market capitalization of $308.71, a PE ratio of -5.08 and a beta of 0.61.
Layne Christensen (NASDAQ:LAYN) last released its quarterly earnings results on Tuesday, December 5th. The construction company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). Layne Christensen had a negative net margin of 12.73% and a negative return on equity of 40.46%. The business had revenue of $127.43 million during the quarter, compared to analysts’ expectations of $131.12 million. During the same quarter last year, the business posted ($0.26) earnings per share. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. equities research analysts predict that Layne Christensen will post -0.51 EPS for the current year.
Large investors have recently made changes to their positions in the company. Alliancebernstein L.P. purchased a new position in shares of Layne Christensen in the second quarter worth about $119,000. Nationwide Fund Advisors raised its stake 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 purchasing an additional 428 shares during the last quarter. Virtu KCG Holdings LLC purchased a new position in shares of Layne Christensen in the second quarter worth about $130,000. Jane Street Group LLC purchased a new position in shares of Layne Christensen in the third quarter worth about $162,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Layne Christensen in the second quarter worth about $197,000. Hedge funds and other institutional investors own 91.46% of the company’s stock.
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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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