Layne Christensen (NASDAQ:LAYN) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
Several other brokerages have also commented on LAYN. Jefferies Group restated a “hold” rating and set a $11.00 target price (up previously from $9.00) on shares of Layne Christensen in a research report on Thursday, September 14th. Zacks Investment Research lowered Layne Christensen from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th.
Shares of Layne Christensen (NASDAQ:LAYN) opened at $12.90 on Friday. Layne Christensen has a 52-week low of $6.98 and a 52-week high of $13.64. The company has a current ratio of 1.54, a quick ratio of 1.38 and a debt-to-equity ratio of 2.93.
Several institutional investors have recently made changes to their positions in LAYN. Dimensional Fund Advisors LP boosted its holdings in Layne Christensen by 9.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,135,219 shares of the construction company’s stock worth $10,035,000 after acquiring an additional 96,511 shares in the last quarter. Rhumbline Advisers boosted its holdings in Layne Christensen by 8.8% in the second quarter. Rhumbline Advisers now owns 21,629 shares of the construction company’s stock worth $190,000 after acquiring an additional 1,755 shares in the last quarter. KBC Group NV boosted its holdings in Layne Christensen by 1.1% in the second quarter. KBC Group NV now owns 228,653 shares of the construction company’s stock worth $2,010,000 after acquiring an additional 2,515 shares in the last quarter. Royce & Associates LP boosted its holdings in Layne Christensen by 3.6% in the second quarter. Royce & Associates LP now owns 1,953,571 shares of the construction company’s stock worth $17,172,000 after acquiring an additional 68,599 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in Layne Christensen in the second quarter worth approximately $416,000. Institutional investors own 91.88% of the company’s stock.
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About Layne Christensen
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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