Layne Christensen Company (LAYN) Given Hold Rating at Jefferies Group LLC

Jefferies Group LLC restated their hold rating on shares of Layne Christensen Company (NASDAQ:LAYN) in a research note released on Thursday. They currently have a $11.00 price target on the construction company’s stock, up from their previous price target of $9.00. Jefferies Group also issued estimates for Layne Christensen’s Q3 2018 earnings at ($0.04) EPS, Q4 2018 earnings at ($0.05) EPS, FY2018 earnings at ($0.36) EPS and FY2019 earnings at $0.51 EPS.

A number of other research analysts have also recently weighed in on the company. ValuEngine upgraded Layne Christensen from a sell rating to a hold rating in a research report on Tuesday, July 18th. Zacks Investment Research upgraded Layne Christensen from a strong sell rating to a hold rating and set a $10.00 price target for the company in a research report on Saturday, June 10th.

Shares of Layne Christensen (LAYN) traded down 0.65% during midday trading on Thursday, reaching $12.18. 293,364 shares of the company traded hands. The stock’s market capitalization is $241.22 million. The stock’s 50-day moving average is $10.51 and its 200-day moving average is $9.06. Layne Christensen has a 1-year low of $6.98 and a 1-year high of $12.33.

Layne Christensen (NASDAQ:LAYN) last released its quarterly earnings data on Monday, September 11th. The construction company reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.07. Layne Christensen had a negative return on equity of 35.55% and a negative net margin of 12.66%. The firm had revenue of $126.20 million during the quarter, compared to analysts’ expectations of $122.99 million. During the same quarter in the prior year, the business posted ($0.21) earnings per share. Layne Christensen’s revenue was up 2.1% compared to the same quarter last year. Equities analysts predict that Layne Christensen will post ($0.40) EPS for the current fiscal year.

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A number of institutional investors have recently bought and sold shares of the stock. Nationwide Fund Advisors increased its position in Layne Christensen by 3.0% during the 2nd quarter. Nationwide Fund Advisors now owns 14,565 shares of the construction company’s stock worth $128,000 after purchasing an additional 428 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Layne Christensen by 5.3% in the 1st 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 boosted its stake in Layne Christensen by 8.8% in the 2nd 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. KBC Group NV boosted its stake in Layne Christensen by 1.1% in the 2nd quarter. KBC Group NV now owns 228,653 shares of the construction company’s stock worth $2,010,000 after buying an additional 2,515 shares during the last quarter. Finally, Teachers Advisors LLC boosted its stake in Layne Christensen by 11.5% in the 2nd quarter. Teachers Advisors LLC now owns 35,051 shares of the construction company’s stock worth $308,000 after buying an additional 3,619 shares during the last quarter. Hedge funds and other institutional investors own 89.27% 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.

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