Layne Christensen Company (NASDAQ:LAYN) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Several other analysts also recently weighed in on LAYN. Jefferies Group LLC set a $9.00 price target on shares of Layne Christensen and gave the stock a “hold” rating in a research note on Saturday, June 10th. Zacks Investment Research raised 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 note on Saturday, June 10th. Finally, TheStreet downgraded shares of Layne Christensen from a “c-” rating to a “d+” rating in a research note on Thursday, April 13th. Four equities research analysts have rated the stock with a hold rating, Layne Christensen currently has an average rating of “Hold” and an average price target of $9.33.

Layne Christensen (NASDAQ LAYN) traded up 5.22% during mid-day trading on Tuesday, reaching $10.07. The company had a trading volume of 437,562 shares. The firm has a 50-day moving average price of $8.55 and a 200 day moving average price of $8.99. Layne Christensen has a 12-month low of $6.98 and a 12-month high of $11.42. The firm’s market capitalization is $199.44 million.

Layne Christensen (NASDAQ:LAYN) last posted its quarterly earnings results on Thursday, June 8th. The construction company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.14. The business had revenue of $111.51 million during the quarter, compared to the consensus estimate of $111.25 million. Layne Christensen had a negative net margin of 11.98% and a negative return on equity of 31.94%. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.45) earnings per share. Analysts expect that Layne Christensen will post ($0.45) EPS for the current year.

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A number of hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN increased its stake 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 valued at $151,000 after buying an additional 855 shares in the last quarter. Van ECK Associates Corp increased its stake in Layne Christensen by 41.3% in the first quarter. Van ECK Associates Corp now owns 48,735 shares of the construction company’s stock valued at $431,000 after buying an additional 14,239 shares in the last quarter. Two Sigma Investments LP increased its stake in Layne Christensen by 673.8% in the fourth quarter. Two Sigma Investments LP now owns 82,819 shares of the construction company’s stock valued at $900,000 after buying an additional 72,116 shares in the last quarter. Bank of New York Mellon Corp increased its stake 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 valued at $750,000 after buying an additional 6,217 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in Layne Christensen during the fourth quarter valued at $2,096,000. 92.31% of the stock is owned by institutional investors and hedge funds.

Layne Christensen Company Profile

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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