Layne Christensen (LAYN) Lifted to Hold at ValuEngine

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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