Layne Christensen Downgraded to Underperform at Zacks (LAYN)
Layne Christensen (NASDAQ:LAYN) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Thursday. They currently have a $12.20 price objective on the stock. Zacks‘s price objective points to a potential downside of 5.21% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group cut their price target on shares of Layne Christensen from $17.00 to $14.50 in a research note on Tuesday. They now have a “hold” rating on the stock.
Shares of Layne Christensen (NASDAQ:LAYN) traded up 4.20% during mid-day trading on Thursday, hitting $13.41. The stock had a trading volume of 197,076 shares. Layne Christensen has a 1-year low of $12.52 and a 1-year high of $21.27. The stock has a 50-day moving average of $15.02 and a 200-day moving average of $16.70. The company’s market cap is $263.1 million.
Layne Christensen (NASDAQ:LAYN) last issued its quarterly earnings data on Monday, June 16th. The company reported ($1.41) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.34) by $1.07. The company had revenue of $191.20 million for the quarter, compared to the consensus estimate of $206.58 million. During the same quarter in the prior year, the company posted ($0.81) earnings per share. The company’s quarterly revenue was down 15.5% on a year-over-year basis. On average, analysts predict that Layne Christensen will post $-1.67 earnings per share for the current fiscal year.
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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