Layne Christensen Company Raised to Neutral at Zacks (LAYN)
Layne Christensen Company (NASDAQ:LAYN) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report issued on Tuesday. The firm currently has a $11.50 target price on the stock. Zacks‘s price target indicates a potential upside of 2.31% from the stock’s previous close.
Layne Christensen Company (NASDAQ:LAYN) traded down 1.82% during mid-day trading on Tuesday, hitting $11.035. 52,317 shares of the company’s stock traded hands. Layne Christensen Company has a one year low of $10.10 and a one year high of $20.75. The stock has a 50-day moving average of $11.62 and a 200-day moving average of $15.25. The company’s market cap is $216.6 million.
Layne Christensen Company (NASDAQ:LAYN) last announced its earnings results on Monday, June 16th. The company reported ($1.41) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted ($0.81) earnings per share. Layne Christensen Company’s revenue was down 15.5% compared to the same quarter last year. On average, analysts predict that Layne Christensen Company will post $-2.00 earnings per share for the current fiscal year.
LAYN has been the subject of a number of other recent research reports. Analysts at DA Davidson cut their price target on shares of Layne Christensen Company from $15.00 to $13.00 in a research note on Tuesday, July 22nd. They now have a “neutral” rating on the stock. Analysts at Jefferies Group cut their price target on shares of Layne Christensen Company from $17.00 to $14.50 in a research note on Tuesday, June 17th. They now have a “hold” rating on the stock.
Layne Christensen Company is a global water management, construction and drilling company. The Company provides solutions for water, mineral and energy challenges.
To view Zacks’ full report, visit Zacks’ official website.
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