Layne Christensen (LAYN) Lifted to Hold at ValuEngine

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

Other equities analysts have also recently issued reports about the company. Zacks Investment Research upgraded Layne Christensen from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. BidaskClub upgraded Layne Christensen from a “hold” rating to a “buy” rating in a report on Wednesday, December 20th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Layne Christensen currently has an average rating of “Hold” and an average price target of $11.00.

Layne Christensen (NASDAQ:LAYN) traded up $2.27 during trading on Wednesday, hitting $14.89. The company’s stock had a trading volume of 4,275,246 shares, compared to its average volume of 285,969. The company has a market cap of $249.92, a PE ratio of -4.68 and a beta of 0.61. Layne Christensen has a 52-week low of $6.98 and a 52-week high of $15.69. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.47 and a quick ratio of 1.32.

Layne Christensen (NASDAQ:LAYN) last posted its quarterly earnings results on Tuesday, December 5th. The construction company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The business had revenue of $127.43 million for the quarter, compared to the consensus estimate of $131.12 million. Layne Christensen had a negative return on equity of 40.46% and a negative net margin of 12.73%. Layne Christensen’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.26) earnings per share. sell-side analysts expect that Layne Christensen will post -0.51 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of LAYN. Alliancebernstein L.P. bought a new position in shares of Layne Christensen in the 2nd quarter worth $119,000. Nationwide Fund Advisors lifted its holdings in shares of Layne Christensen by 3.0% in the 2nd quarter. Nationwide Fund Advisors now owns 14,565 shares of the construction company’s stock worth $128,000 after purchasing an additional 428 shares in the last quarter. Virtu KCG Holdings LLC bought a new position in shares of Layne Christensen in the 2nd quarter worth $130,000. Jane Street Group LLC bought a new position in shares of Layne Christensen in the 3rd quarter worth $162,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Layne Christensen in the 2nd quarter worth $197,000. Institutional investors own 91.46% of the company’s stock.

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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.

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

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