Shares of Layne Christensen (NASDAQ:LAYN) have earned an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.
Brokerages have set a one year consensus price target of $11.00 for the company and are forecasting that the company will post ($0.14) earnings per share for the current quarter, according to Zacks. Zacks has also given Layne Christensen an industry rank of 83 out of 265 based on the ratings given to related companies.
A number of equities research analysts have recently weighed in on the stock. ValuEngine upgraded shares of Layne Christensen from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. Jefferies Group reaffirmed a “hold” rating and issued a $11.00 target price (up from $9.00) on shares of Layne Christensen in a research report on Thursday, September 14th. Finally, Zacks Investment Research downgraded shares of Layne Christensen from a “hold” rating to a “sell” rating in a research report on Monday, December 11th.
Shares of Layne Christensen (NASDAQ LAYN) opened at $12.78 on Wednesday. Layne Christensen has a fifty-two week low of $6.98 and a fifty-two week high of $13.64. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.32 and a current ratio of 1.47.
Layne Christensen (NASDAQ:LAYN) last announced its quarterly earnings data on Tuesday, December 5th. The construction company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.07). Layne Christensen had a negative net margin of 12.73% and a negative return on equity of 40.46%. The firm had revenue of $127.43 million during the quarter, compared to analyst estimates of $131.12 million. During the same quarter in the previous year, the business posted ($0.26) earnings per share. Layne Christensen’s revenue for the quarter was up 5.7% compared to the same quarter last year. equities analysts forecast that Layne Christensen will post -0.51 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP purchased a new position in shares of Layne Christensen in the 3rd quarter valued at $384,000. Jane Street Group LLC purchased a new position in shares of Layne Christensen in the 3rd quarter valued at $162,000. Wells Fargo & Company MN grew its position in shares of Layne Christensen by 287.9% in the 3rd quarter. Wells Fargo & Company MN now owns 157,745 shares of the construction company’s stock valued at $1,980,000 after buying an additional 117,075 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Layne Christensen by 1,479.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 65,155 shares of the construction company’s stock valued at $807,000 after buying an additional 61,030 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in shares of Layne Christensen by 179.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 132,300 shares of the construction company’s stock valued at $1,660,000 after buying an additional 85,000 shares during the last quarter. 92.05% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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