Layne Christensen (LAYN) Reaches New 52-Week High at $15.03
Layne Christensen (NASDAQ:LAYN) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $15.03 and last traded at $12.62, with a volume of 119700 shares traded. The stock had previously closed at $12.62.
A number of research analysts have commented on the company. ValuEngine cut Layne Christensen from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Zacks Investment Research raised Layne Christensen from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. Finally, BidaskClub raised Layne Christensen from a “hold” rating to a “buy” rating in a research report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $11.00.
The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 3.05.
A number of large investors have recently bought and sold shares of the stock. Corsair Capital Management L.P. increased its holdings in Layne Christensen by 49.5% in the fourth quarter. Corsair Capital Management L.P. now owns 150,117 shares of the construction company’s stock valued at $1,884,000 after buying an additional 49,687 shares during the last quarter. Moors & Cabot Inc. purchased a new position in Layne Christensen in the fourth quarter valued at $672,000. Geode Capital Management LLC increased its holdings in Layne Christensen by 9.4% in the fourth quarter. Geode Capital Management LLC now owns 172,185 shares of the construction company’s stock valued at $2,160,000 after buying an additional 14,829 shares during the last quarter. Investors Research Corp purchased a new position in Layne Christensen in the fourth quarter valued at $453,000. Finally, Crystal Rock Capital Management increased its holdings in Layne Christensen by 6.8% in the fourth quarter. Crystal Rock Capital Management now owns 211,148 shares of the construction company’s stock valued at $2,650,000 after buying an additional 13,500 shares during the last quarter. 91.46% of the stock is currently owned by hedge funds and other institutional investors.
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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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