Shares of Layne Christensen Co. (NASDAQ:LAYN) have been given an average broker rating score of 2.33 (Buy) from the three analysts that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company.
Analysts have set a one year consensus target price of $8.92 for the company and are expecting that the company will post ($0.17) EPS for the current quarter, according to Zacks. Zacks has also assigned Layne Christensen an industry rank of 188 out of 265 based on the ratings given to its competitors.
Several equities analysts have recently weighed in on LAYN shares. Jefferies Group reiterated a “hold” rating on shares of Layne Christensen in a research report on Monday, August 15th. Zacks Investment Research upgraded Layne Christensen from a “sell” rating to a “hold” rating in a research report on Wednesday, November 9th. DA Davidson reiterated a “neutral” rating on shares of Layne Christensen in a research report on Monday, September 12th. Finally, TheStreet upgraded Layne Christensen from a “sell” rating to a “hold” rating in a research report on Wednesday, September 7th.
A number of institutional investors have recently bought and sold shares of the company. Nationwide Fund Advisors boosted its position in Layne Christensen by 266.5% in the second quarter. Nationwide Fund Advisors now owns 15,144 shares of the company’s stock valued at $123,000 after buying an additional 11,012 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Layne Christensen during the third quarter valued at approximately $123,000. Two Sigma Advisers LP acquired a new position in Layne Christensen during the third quarter valued at approximately $164,000. Rhumbline Advisers acquired a new position in Layne Christensen during the second quarter valued at approximately $165,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Layne Christensen during the first quarter valued at approximately $232,000. Institutional investors and hedge funds own 93.87% of the company’s stock.
Layne Christensen (NASDAQ:LAYN) opened at 10.65 on Tuesday. Layne Christensen has a 52-week low of $3.75 and a 52-week high of $10.89. The firm has a 50-day moving average price of $9.03 and a 200 day moving average price of $8.57. The company’s market capitalization is $210.92 million.
Layne Christensen (NASDAQ:LAYN) last announced its quarterly earnings results on Tuesday, September 6th. The company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by $0.06. The company earned $159.05 million during the quarter, compared to analysts’ expectations of $164.19 million. Layne Christensen had a negative net margin of 5.25% and a negative return on equity of 23.75%. Layne Christensen’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.19) earnings per share. On average, analysts predict that Layne Christensen will post ($1.12) earnings per share for the current fiscal year.
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 four segments: Water Resources, Inliner, Heavy Civil and Mineral Services.