Layne Christensen (LAYN) Rating Increased to Buy at BidaskClub
Layne Christensen (NASDAQ:LAYN) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Wednesday.
Other research analysts have also recently issued reports about the company. ValuEngine upgraded Layne Christensen from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Jefferies Group reaffirmed a “hold” rating and set a $11.00 target price (up from $9.00) on shares of Layne Christensen in a research report on Thursday, September 14th. Finally, Zacks Investment Research lowered Layne Christensen from a “hold” rating to a “sell” rating in a research report on Monday, December 11th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $11.00.
Layne Christensen (NASDAQ LAYN) opened at $12.78 on Wednesday. Layne Christensen has a 12 month low of $6.98 and a 12 month high of $13.64. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.32 and a current ratio of 1.47.
Large investors have recently made changes to their positions in the stock. Alliancebernstein L.P. bought a new position in Layne Christensen during the 2nd quarter worth $119,000. Royce & Associates LP raised its position in Layne Christensen by 3.6% during the 2nd quarter. Royce & Associates LP now owns 1,953,571 shares of the construction company’s stock worth $17,172,000 after purchasing an additional 68,599 shares during the last quarter. Northern Trust Corp raised its position in 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 purchasing an additional 8,767 shares during the last quarter. KBC Group NV raised its position in Layne Christensen by 1.1% during the 2nd quarter. KBC Group NV now owns 228,653 shares of the construction company’s stock worth $2,010,000 after purchasing an additional 2,515 shares during the last quarter. Finally, Cove Street Capital LLC raised its position in Layne Christensen by 100.0% during the 2nd quarter. Cove Street Capital LLC now owns 200,000 shares of the construction company’s stock worth $1,758,000 after purchasing an additional 100,000 shares during the last quarter. 92.05% of the stock is owned by institutional investors and hedge funds.
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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