Layne Christensen (LAYN) Lowered to “Sell” at ValuEngine

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.

Layne Christensen (NASDAQ:LAYN) last announced its earnings results on Monday, September 11th. The construction company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.07. Layne Christensen had a negative return on equity of 35.55% and a negative net margin of 12.66%. The company had revenue of $126.20 million for the quarter, compared to analyst estimates of $122.99 million. During the same quarter in the prior year, the company earned ($0.21) EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. analysts predict that Layne Christensen will post -0.36 earnings per share for the current year.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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