Layne Christensen (LAYN) Stock Rating Upgraded by Zacks Investment Research

Layne Christensen (NASDAQ:LAYN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Layne Christensen Company provides drilling services and related products and services in four principal markets: water-related products and services, mineral exploration drilling, geotechnical construction and oil and gas services and production. Layne Christensen’s customers include municipalities, industrial companies, mining companies, oil and gas companies and consulting and engineering firms. “

Several other equities research analysts have also commented on LAYN. ValuEngine lowered Layne Christensen from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. BidaskClub upgraded Layne Christensen from a “hold” rating to a “buy” rating in a research report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Layne Christensen presently has a consensus rating of “Hold” and an average target price of $11.00.

Shares of Layne Christensen (NASDAQ:LAYN) opened at $12.54 on Wednesday. Layne Christensen has a 52-week low of $6.98 and a 52-week high of $13.83. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.32 and a current ratio of 1.47. The company has a market capitalization of $251.51, a PE ratio of -6.12 and a beta of 0.61.

Layne Christensen (NASDAQ:LAYN) last announced its earnings results on Tuesday, December 5th. The construction company reported ($0.11) EPS for the quarter, missing the 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 business had revenue of $127.43 million for the quarter, compared to the consensus estimate of $131.12 million. During the same quarter in the previous year, the company earned ($0.26) EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. research analysts forecast that Layne Christensen will post -0.51 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in LAYN. Wells Fargo & Company MN boosted its position in shares of Layne Christensen by 287.9% during the 3rd quarter. Wells Fargo & Company MN now owns 157,745 shares of the construction company’s stock valued at $1,980,000 after purchasing an additional 117,075 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Layne Christensen by 179.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 132,300 shares of the construction company’s stock valued at $1,660,000 after purchasing an additional 85,000 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Layne Christensen by 1,479.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 65,155 shares of the construction company’s stock valued at $807,000 after purchasing an additional 61,030 shares in the last quarter. EAM Investors LLC bought a new stake in shares of Layne Christensen during the 3rd quarter valued at about $622,000. Finally, GSA Capital Partners LLP bought a new position in Layne Christensen in the third quarter worth approximately $384,000. Institutional investors own 92.15% 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.

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