Layne Christensen Co. (LAYN) Trading Up 3.5%
Layne Christensen Co. (NASDAQ:LAYN) shares were up 3.5% 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.
A number of research analysts have weighed in on LAYN shares. Jefferies Group reaffirmed a “hold” rating and issued a $7.25 price objective (down from $7.50) on shares of Layne Christensen in a research note on Monday, April 18th. Zacks Investment Research upgraded shares of Layne Christensen from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th. Finally, Maxim Group increased their target price on shares of Layne Christensen from $8.00 to $9.00 and gave the company a “buy” rating in a report on Monday, April 18th.
The company’s 50 day moving average is $8.18 and its 200 day moving average is $7.49. The stock’s market capitalization is $185.74 million.
Layne Christensen (NASDAQ:LAYN) last issued its quarterly earnings data on Monday, June 6th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.31) by $0.14. The business had revenue of $159.70 million for the quarter, compared to analyst estimates of $160.24 million. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. Analysts expect that Layne Christensen Co. will post ($0.74) EPS for the current year.
A hedge fund recently raised its stake in Layne Christensen stock. First Trust Advisors LP increased its position in shares of Layne Christensen Co. (NASDAQ:LAYN) by 153.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 387,343 shares of the company’s stock after buying an additional 234,478 shares during the period. First Trust Advisors LP owned about 1.96% of Layne Christensen worth $2,037,000 as of its most recent filing with the SEC.
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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