Layne Christensen Co. (LAYN) Reaches New 52-Week High at $9.48
Layne Christensen Co. (NASDAQ:LAYN)’s share price reached a new 52-week high on Thursday . The company traded as high as $9.48 and last traded at $9.47, with a volume of 56,267 shares traded. The stock had previously closed at $9.07.
Several equities research analysts have recently issued reports on LAYN shares. Maxim Group increased their price objective on shares of Layne Christensen from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, April 18th. Jefferies Group reissued a “hold” rating and issued a $7.25 price objective (down previously from $7.50) on shares of Layne Christensen in a research report on Monday, April 18th. Finally, Zacks Investment Research lowered shares of Layne Christensen from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 19th.
The stock has a 50 day moving average of $8.11 and a 200-day moving average of $7.48. The firm’s market capitalization is $185.94 million.
Layne Christensen (NASDAQ:LAYN) last released its earnings results on Monday, June 6th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.31) by $0.14. The firm had revenue of $159.70 million for the quarter, compared to analyst estimates of $160.24 million. Layne Christensen’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.33) earnings per share. On average, equities research analysts forecast that Layne Christensen Co. will post ($0.74) EPS for the current fiscal year.
A hedge fund recently raised its stake in Layne Christensen stock. KBC Group NV boosted its stake in Layne Christensen Co. (NASDAQ:LAYN) by 99.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 1.03% of Layne Christensen worth $1,074,000 as of its most recent SEC filing.
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.