A number of other brokerages have also recently issued reports on LAYN. ValuEngine upgraded Layne Christensen from a sell rating to a hold rating in a research note on Wednesday. Zacks Investment Research upgraded Layne Christensen from a sell rating to a hold rating in a research note on Wednesday, February 7th. Finally, BidaskClub upgraded Layne Christensen from a hold rating to a buy rating in a research note on Wednesday, December 20th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently 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 Thursday. Layne Christensen has a 12 month low of $6.98 and a 12 month high of $16.27. The stock has a market capitalization of $308.71, a P/E ratio of -5.08 and a beta of 0.61. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.32 and a current ratio of 1.47.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC bought a new stake in Layne Christensen in the 3rd quarter valued at $162,000. Alliancebernstein L.P. bought a new stake in Layne Christensen in the 2nd quarter valued at $119,000. Nationwide Fund Advisors raised its stake in Layne Christensen by 3.0% in the 2nd quarter. Nationwide Fund Advisors now owns 14,565 shares of the construction company’s stock valued at $128,000 after acquiring an additional 428 shares during the period. Virtu KCG Holdings LLC bought a new stake in Layne Christensen in the 2nd quarter valued at $130,000. Finally, Millennium Management LLC bought a new stake in Layne Christensen in the 4th quarter valued at $218,000. Institutional investors and hedge funds 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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