Zacks: Layne Christensen Company (LAYN) Given $11.00 Consensus Target Price by Analysts
Shares of Layne Christensen Company (NASDAQ:LAYN) have earned a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.
Analysts have set a 12-month consensus price objective of $11.00 for the company and are expecting that the company will post ($0.04) earnings per share for the current quarter, according to Zacks. Zacks has also given Layne Christensen an industry rank of 211 out of 265 based on the ratings given to its competitors.
A number of research firms have commented on LAYN. Jefferies Group LLC reaffirmed a “hold” rating and issued a $11.00 target price (up previously from $9.00) on shares of Layne Christensen in a research report on Thursday. ValuEngine upgraded shares of Layne Christensen from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Zacks Investment Research cut shares of Layne Christensen from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th.
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Layne Christensen (NASDAQ:LAYN) traded down 0.65% during trading on Friday, reaching $12.18. The company had a trading volume of 295,357 shares. The firm’s market capitalization is $241.22 million. The firm’s 50 day moving average price is $10.51 and its 200 day moving average price is $9.06. Layne Christensen has a 12-month low of $6.98 and a 12-month high of $12.33.
Layne Christensen (NASDAQ:LAYN) last posted its earnings results on Monday, September 11th. The construction company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.07. Layne Christensen had a negative net margin of 12.66% and a negative return on equity of 35.55%. The business had revenue of $126.20 million during the quarter, compared to the consensus estimate of $122.99 million. During the same quarter in the previous year, the firm posted ($0.21) EPS. The firm’s revenue was up 2.1% on a year-over-year basis. Equities research analysts forecast that Layne Christensen will post ($0.40) EPS for the current year.
Institutional investors have recently modified their holdings of the company. Alliancebernstein L.P. purchased a new position in shares of Layne Christensen during the 2nd quarter worth $119,000. Nationwide Fund Advisors boosted its stake in shares of Layne Christensen by 3.0% during the 2nd quarter. Nationwide Fund Advisors now owns 14,565 shares of the construction company’s stock worth $128,000 after acquiring an additional 428 shares during the last quarter. Virtu KCG Holdings LLC purchased a new position in shares of Layne Christensen during the 2nd quarter worth $130,000. Wells Fargo & Company MN boosted its stake in shares of Layne Christensen by 5.3% during the 1st quarter. Wells Fargo & Company MN now owns 17,000 shares of the construction company’s stock worth $151,000 after acquiring an additional 855 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Layne Christensen by 8.8% during the 2nd quarter. Rhumbline Advisers now owns 21,629 shares of the construction company’s stock worth $190,000 after acquiring an additional 1,755 shares during the last quarter. Institutional investors and hedge funds own 89.27% of the company’s stock.
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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