Layne Christensen Co. (LAYN) Hits New 1-Year High at $9.48
Shares of Layne Christensen Co. (NASDAQ:LAYN) hit a new 52-week high during trading on Thursday . The company traded as high as $9.48 and last traded at $9.47, with a volume of 56,267 shares changing hands. The stock had previously closed at $9.07.
LAYN has been the topic of a number of research reports. Jefferies Group restated a “hold” rating on shares of Layne Christensen in a report on Wednesday, June 8th. 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 report on Monday, April 18th. Finally, Zacks Investment Research upgraded shares of Layne Christensen from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th.
The stock’s market cap is $185.15 million. The stock has a 50-day moving average price of $8.24 and a 200 day moving average price of $7.53.
Layne Christensen (NASDAQ:LAYN) last issued its quarterly 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. During the same period in the previous year, the company posted ($0.33) EPS. The company earned $159.70 million during the quarter, compared to the consensus estimate of $160.24 million. The firm’s revenue was down 8.4% compared to the same quarter last year. On average, equities analysts expect 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. First Trust Advisors LP raised its position in Layne Christensen Co. (NASDAQ:LAYN) by 153.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 387,343 shares of the company’s stock after buying an additional 234,478 shares during the period. First Trust Advisors LP owned 1.96% of Layne Christensen worth $2,037,000 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.