Zacks Investment Research upgraded shares of Layne Christensen (NASDAQ:LAYN) from a sell rating to a hold rating in a research note released 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. “

Other analysts have also recently issued reports about the company. BidaskClub raised Layne Christensen from a hold rating to a buy rating in a report on Wednesday, December 20th. ValuEngine cut Layne Christensen from a hold rating to a sell rating in a report on Friday, December 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company has an average rating of Hold and an average target price of $11.00.

Shares of Layne Christensen (NASDAQ LAYN) opened at $12.55 on Wednesday. The stock has a market capitalization of $249.32, a P/E ratio of -3.95 and a beta of 0.61. Layne Christensen has a twelve month low of $6.98 and a twelve month high of $13.83. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 3.05.

Layne Christensen (NASDAQ:LAYN) last issued its quarterly earnings data on Tuesday, December 5th. The construction company reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.07). The firm had revenue of $127.43 million for the quarter, compared to analysts’ expectations of $131.12 million. Layne Christensen had a negative return on equity of 40.46% and a negative net margin of 12.73%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the company earned ($0.26) earnings per share. equities research analysts predict that Layne Christensen will post -0.51 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Nationwide Fund Advisors raised its holdings in shares of Layne Christensen by 3.0% during the 2nd quarter. Nationwide Fund Advisors now owns 14,565 shares of the construction company’s stock worth $128,000 after acquiring an additional 428 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Layne Christensen by 8.8% during the 2nd quarter. Rhumbline Advisers now owns 21,629 shares of the construction company’s stock worth $190,000 after acquiring an additional 1,755 shares in the last quarter. Teachers Advisors LLC raised its holdings in shares of Layne Christensen by 11.5% during the 2nd quarter. Teachers Advisors LLC now owns 35,051 shares of the construction company’s stock worth $308,000 after acquiring an additional 3,619 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Layne Christensen by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,140,388 shares of the construction company’s stock worth $10,024,000 after acquiring an additional 5,169 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Layne Christensen by 4.2% during the 2nd quarter. Northern Trust Corp now owns 218,316 shares of the construction company’s stock worth $1,919,000 after acquiring an additional 8,767 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

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About Layne Christensen

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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