Layne Christensen Co. (LAYN) Stock Price Up 3.5%
Layne Christensen Co. (NASDAQ:LAYN) shares rose 3.5% during mid-day trading on Wednesday . The company traded as high as $9.12 and last traded at $8.78, with a volume of 190,996 shares changing hands. The stock had previously closed at $8.48.
LAYN has been the subject of a number of analyst reports. Maxim Group boosted their target price on shares of Layne Christensen from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Monday, April 18th. Jefferies Group reissued a “hold” rating and set a $7.25 target price (down from $7.50) on shares of Layne Christensen in a research note on Monday, April 18th. Finally, Zacks Investment Research raised shares of Layne Christensen from a “sell” rating to a “hold” rating in a research note on Wednesday, June 15th.
The firm has a 50 day moving average price of $8.05 and a 200 day moving average price of $7.47. The company’s market capitalization is $179.60 million.
Layne Christensen (NASDAQ:LAYN) last announced its earnings results on Monday, June 6th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by $0.14. The company had revenue of $159.70 million for the quarter, compared to analyst estimates of $160.24 million. During the same period in the prior year, the business earned ($0.33) EPS. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, equities research analysts anticipate that Layne Christensen Co. will post ($0.74) earnings per share for the current year.
A hedge fund recently raised its stake in Layne Christensen stock. KBC Group NV increased its position in Layne Christensen Co. (NASDAQ:LAYN) by 99.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,186 shares of the company’s stock after buying an additional 101,628 shares during the period. KBC Group NV owned approximately 1.03% of Layne Christensen worth $1,074,000 at the end of the most recent quarter.
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.
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