Layne Christensen Company (LAYN) Stock Rating Upgraded by ValuEngine

Layne Christensen Company (NASDAQ:LAYN) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

Several other equities analysts have also commented on LAYN. Zacks Investment Research upgraded shares of 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. Jefferies Group LLC set a $9.00 price target on shares of Layne Christensen and gave the stock a “hold” rating in a research report on Saturday, June 10th.

Shares of Layne Christensen (NASDAQ:LAYN) opened at 12.27 on Wednesday. The firm’s market cap is $243.01 million. Layne Christensen has a 1-year low of $6.98 and a 1-year high of $12.30. The stock has a 50 day moving average of $10.51 and a 200 day moving average of $9.06.

Layne Christensen (NASDAQ:LAYN) last released its quarterly earnings results on Monday, September 11th. The construction company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.07. The business had revenue of $126.20 million during the quarter, compared to analyst estimates of $122.99 million. Layne Christensen had a negative net margin of 12.66% and a negative return on equity of 35.55%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. Equities research analysts anticipate that Layne Christensen will post ($0.37) earnings per share for the current fiscal year.

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Hedge funds have recently bought and sold shares of the stock. KBC Group NV lifted its holdings in Layne Christensen by 1.1% in the second quarter. KBC Group NV now owns 228,653 shares of the construction company’s stock worth $2,010,000 after purchasing an additional 2,515 shares during the period. Royce & Associates LP lifted its holdings 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 worth $17,172,000 after purchasing an additional 68,599 shares during the period. Credit Suisse AG lifted its holdings in Layne Christensen by 2.6% in the first quarter. Credit Suisse AG now owns 723,400 shares of the construction company’s stock worth $6,394,000 after purchasing an additional 18,046 shares during the period. Bank of New York Mellon Corp lifted its holdings in 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 purchasing an additional 6,217 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in 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 purchasing an additional 855 shares during the period. 89.27% of the stock is owned by institutional investors and hedge funds.

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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