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.

Layne Christensen (NASDAQ:LAYN) last announced its quarterly earnings results on Tuesday, December 5th. The construction company reported ($0.11) EPS for the quarter, missing the Zacks’ 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 firm had revenue of $127.43 million during the quarter, compared to the consensus estimate of $131.12 million. During the same quarter in the previous year, the company posted ($0.26) earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. analysts predict that Layne Christensen will post -0.51 EPS for the current fiscal year.

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.

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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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