Layne Christensen Company (LAYN) Sees Unusually-High Trading Volume
Layne Christensen Company (NASDAQ:LAYN) saw strong trading volume on Wednesday . 126,189 shares changed hands during mid-day trading, a decline of 27% from the previous session’s volume of 173,108 shares.The stock last traded at $12.84 and had previously closed at $13.17.
Several equities analysts have recently weighed in on the company. Jefferies Group LLC restated a “hold” rating and issued a $11.00 target price (up previously from $9.00) on shares of Layne Christensen in a research report on Thursday, September 14th. ValuEngine upgraded Layne Christensen from a “sell” rating to a “hold” rating in a research report on Wednesday, September 13th. Finally, Zacks Investment Research downgraded Layne Christensen from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th.
The stock’s market cap is $255.27 million. The firm’s 50-day moving average is $11.26 and its 200-day moving average is $9.34.
Layne Christensen (NASDAQ:LAYN) last announced its earnings results on Monday, September 11th. The construction company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.07. The firm had revenue of $126.20 million for the quarter, compared to analysts’ expectations of $122.99 million. Layne Christensen had a negative return on equity of 35.55% and a negative net margin of 12.66%. Layne Christensen’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.21) EPS. Analysts expect that Layne Christensen Company will post ($0.40) EPS for the current year.
Several institutional investors have recently modified their holdings of LAYN. Alliancebernstein L.P. purchased a new position in shares of Layne Christensen during the 2nd quarter worth $119,000. Nationwide Fund Advisors lifted its stake 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 purchasing an additional 428 shares during the period. Virtu KCG Holdings LLC purchased a new position in shares of Layne Christensen during the 2nd quarter worth $130,000. Wells Fargo & Company MN lifted its stake in shares of Layne Christensen by 5.3% during the 1st quarter. Wells Fargo & Company MN now owns 17,000 shares of the construction company’s stock worth $151,000 after purchasing an additional 855 shares during the period. Finally, Rhumbline Advisers lifted its stake 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 purchasing an additional 1,755 shares during the period. 89.27% of the stock is currently owned by institutional investors.
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Layne Christensen Company Profile
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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