Layne Christensen (NASDAQ:LAYN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.

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. “

Several other equities analysts have also recently commented on the stock. Jefferies Group reissued a “hold” rating and issued a $11.00 price target (up previously from $9.00) on shares of Layne Christensen in a research report on Thursday, September 14th. ValuEngine raised shares of Layne Christensen from a “sell” rating to a “hold” rating in a research report on Wednesday, September 13th.

Layne Christensen (NASDAQ:LAYN) opened at $12.00 on Monday. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.47 and a quick ratio of 1.32. Layne Christensen has a 1 year low of $6.98 and a 1 year high of $13.64.

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

Several institutional investors have recently added to or reduced their stakes in LAYN. Alliancebernstein L.P. purchased a new stake in shares of Layne Christensen during the 2nd quarter worth $119,000. Nationwide Fund Advisors lifted its position 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 last quarter. Virtu KCG Holdings LLC purchased a new stake in shares of Layne Christensen during the 2nd quarter worth $130,000. Jane Street Group LLC purchased a new stake in shares of Layne Christensen during the 3rd quarter worth $162,000. Finally, Rhumbline Advisers lifted its position 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 last quarter. 92.12% of the stock is 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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