Layne Christensen Company (LAYN) Downgraded by TheStreet to “D+”

Layne Christensen Company (NASDAQ:LAYN) was downgraded by equities researchers at TheStreet from a “c-” rating to a “d+” rating in a research note issued on Thursday, April 13th.

LAYN has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Layne Christensen Company from a “hold” rating to a “sell” rating in a report on Tuesday, December 20th. Jefferies Group LLC reiterated a “hold” rating and set a $10.00 price target (up from $7.75) on shares of Layne Christensen Company in a report on Thursday, December 15th.

Shares of Layne Christensen Company (NASDAQ:LAYN) opened at 7.63 on Thursday. The company’s market capitalization is $151.10 million. The stock has a 50 day moving average price of $8.16 and a 200-day moving average price of $9.54. Layne Christensen Company has a 12 month low of $6.50 and a 12 month high of $11.42.

Layne Christensen Company (NASDAQ:LAYN) last issued its quarterly earnings results on Monday, April 10th. The construction company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.82. The firm had revenue of $129.60 million for the quarter, compared to analysts’ expectations of $154.50 million. Layne Christensen Company had a negative return on equity of 22.33% and a negative net margin of 5.66%. The business’s quarterly revenue was down 18.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.84) earnings per share. Analysts forecast that Layne Christensen Company will post ($0.61) EPS for the current year.

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A number of large investors have recently added to or reduced their stakes in LAYN. Wynnefield Capital Inc. acquired a new position in shares of Layne Christensen Company during the fourth quarter worth $19,595,000. Parametric Portfolio Associates LLC boosted its position in shares of Layne Christensen Company by 779.7% in the first quarter. Parametric Portfolio Associates LLC now owns 447,331 shares of the construction company’s stock worth $3,954,000 after buying an additional 396,481 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Layne Christensen Company during the fourth quarter worth $2,096,000. Renaissance Technologies LLC boosted its position in shares of Layne Christensen Company by 27.1% in the fourth quarter. Renaissance Technologies LLC now owns 694,054 shares of the construction company’s stock worth $7,544,000 after buying an additional 147,854 shares during the period. Finally, Royce & Associates LP boosted its position in shares of Layne Christensen Company by 5.8% in the first quarter. Royce & Associates LP now owns 1,884,972 shares of the construction company’s stock worth $16,663,000 after buying an additional 103,443 shares during the period. Hedge funds and other institutional investors own 95.64% of the company’s stock.

About Layne Christensen Company

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.

5 Day Chart for NASDAQ:LAYN

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