Insider Buying: David Brown Buys 20,000 Shares of Layne Christensen Stock (LAYN)
Layne Christensen (NASDAQ:LAYN) Chairman David Brown bought 20,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was purchased at an average price of $16.69 per share, with a total value of $333,800.00. Following the transaction, the chairman now directly owns 25,213 shares in the company, valued at approximately $420,805. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Layne Christensen (NASDAQ:LAYN) traded down 0.66% on Wednesday, hitting $16.57. The stock had a trading volume of 179,658 shares. Layne Christensen has a one year low of $13.88 and a one year high of $24.16. The stock’s 50-day moving average is $16.00 and its 200-day moving average is $18.55. The company’s market cap is $325.1 million.
Layne Christensen (NASDAQ:LAYN) last announced its earnings results on Thursday, December 5th. The company reported ($0.80) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.36) by $0.44. The company had revenue of $216.50 million for the quarter, compared to the consensus estimate of $244.68 million. During the same quarter last year, the company posted $0.45 earnings per share. Layne Christensen’s revenue was down 23.0% compared to the same quarter last year. Analysts expect that Layne Christensen will post $-3.39 EPS for the current fiscal year.
LAYN has been the subject of a number of recent research reports. Analysts at UBS AG upgraded shares of Layne Christensen from a “sell” rating to a “neutral” rating in a research note to investors on Wednesday, November 20th. They now have a $16.00 price target on the stock. Analysts at Zacks upgraded shares of Layne Christensen from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, November 11th. They now have a $16.20 price target on the stock. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.10.
Layne Christensen Company is a global water management, construction and drilling company. It provides solutions for water, mineral and energy challenges.
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