Layne Christensen Company (LAYN) is Reiterated by Maxim Group to Buy, Raises Price Target to $ 9

Layne Christensen Company (LAYN) was Reiterated by Maxim Group to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 9 from a previous price target of $8 . Maxim Group advised their investors in a research report released on Apr 18, 2016.

Many Wall Street Analysts have commented on Layne Christensen Company. Maxim Group Initiated Layne Christensen Company on Feb 19, 2016 to “Buy”, Price Target of the shares are set at $8.

On the company’s financial health, Layne Christensen Company reported $-0.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.17 based on the information available during the earnings call on Dec 9, 2015. Analyst had a consensus of $0.00. The company had revenue of $173.20 million for the quarter, compared to analysts expectations of $200.16 million. The company’s revenue was down -13.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.19 EPS.

Layne Christensen Company opened for trading at $7.34 and hit $8.11 on the upside on Friday, eventually ending the session at $7.74, with a gain of 5.88% or 0.43 points. The heightened volatility saw the trading volume jump to 2,31,363 shares. Company has a market cap of $153 M.

In a different news, on Jan 19, 2016, J Michael Anderson (CFO) purchased 2,000 shares at $5.13 per share price. According to the SEC, on Jan 6, 2016, Nelson Obus (director) purchased 289,191 shares at $5.25 per share price. On Dec 28, 2015, David A B Brown (CEO) purchased 15,000 shares at $4.78 per share price, according to the Form-4 filing with the securities and exchange commission.

Layne Christensen Company (Layne) is a water management construction and drilling company. Layne provides water mineral and energy solutions. Its business segments are Water Resources Inliner Heavy Civil Geoconstruction Mineral Services and Energy Services. Water Resources segment provides solutions for water supply system development and technology. Inliner is a service rehabilitation company offering solutions for wastewater storm water and process sewer pipeline networks. Heavy Civil segment delivers solutions to Government agencies and industrial clients by overseeing the design and construction of water and wastewater treatment plants and pipeline installation. Geoconstruction segment provides specialized geotechnical foundation construction services. Mineral Services conducts above ground drilling activities including core drilling reverse circulation dual tube hammer and rotary air-blast methods. Energy Services segment focuses on bringing water management solutions.

Layne Christensen Company

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