The stock of Layne Christensen Company (NASDAQ:LAYN) hit a new 52-week high and has $23.20 target or 125.00% above today’s $10.31 share price. The 6 months bullish chart indicates low risk for the $213.23M company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $23.20 price target is reached, the company will be worth $266.54M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 162,988 shares traded hands or 133.91% up from the average. Layne Christensen Company (NASDAQ:LAYN) has risen 39.83% since April 11, 2016 and is uptrending. It has outperformed by 33.69% the S&P500.
Layne Christensen Company (NASDAQ:LAYN) Ratings Coverage
Out of 2 analysts covering Layne Christensen (NASDAQ:LAYN), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Layne Christensen has been the topic of 4 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Zacks given on Tuesday, August 18. Maxim Group initiated the stock with “Buy” rating in Friday, February 19 report. The rating was maintained by DA Davidson with “Neutral” on Monday, March 7.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment decreased to 1.15 in Q2 2016. Its down 0.06, from 1.21 in 2016Q1. The ratio dropped, as 13 funds sold all Layne Christensen Company shares owned while 20 reduced positions. 14 funds bought stakes while 24 increased positions. They now own 17.96 million shares or 0.88% less from 18.12 million shares in 2016Q1.
Moreover, Spark Investment Management has 0.04% invested in Layne Christensen Company (NASDAQ:LAYN) for 48,300 shares. Fuller And Thaler Asset Mngmt Inc accumulated 0.03% or 214,600 shares. Blackrock Advsr Limited Liability Corp has 0% invested in the company for 8,924 shares. Evercore Wealth Llc holds 250 shares or 0% of its portfolio. Tiaa Cref Invest Mngmt Limited Liability Co accumulated 0% or 60,623 shares. The Switzerland-based Credit Suisse Ag has invested 0.01% in Layne Christensen Company (NASDAQ:LAYN). Highlander Capital Mngmt Limited Liability Corporation has 1,000 shares for 0.01% of their US portfolio. Wynnefield holds 1.80M shares or 5.28% of its portfolio. Rutabaga Lc Ma last reported 2.33% of its portfolio in the stock. Moreover, Price T Rowe Associates Md has 0% invested in Layne Christensen Company (NASDAQ:LAYN) for 38,500 shares. California Public Employees Retirement Sys owns 258,200 shares or 0% of their US portfolio. Van Den Berg Mgmt I reported 2.37 million shares or 2.47% of all its holdings. Blackrock Institutional Tru Na has 499,783 shares for 0% of their US portfolio. Washington Tru Fincl Bank accumulated 3,000 shares or 0.01% of the stock. Bridgeway Cap Inc, a Texas-based fund reported 36,430 shares.
More notable recent Layne Christensen Company (NASDAQ:LAYN) news were published by: Marketwatch.com which released: “/quotes/zigman/3870025/realtime” on December 11, 2010, also Prnewswire.com with their article: “Layne Christensen To Present At The Jefferies 2016 Industrial Conference” published on August 05, 2016, Prnewswire.com published: “Layne Christensen Reports Second Quarter Fiscal 2017 Results” on September 06, 2016. More interesting news about Layne Christensen Company (NASDAQ:LAYN) were released by: Prnewswire.com and their article: “Layne Christensen To Present At The D.A. Davidson 15th Annual Engineering …” published on September 02, 2016 as well as Prnewswire.com‘s news article titled: “Layne Christensen Reports First Quarter Fiscal 2017 Results” with publication date: June 06, 2016.
LAYN Company Profile
Layne Christensen Company (Layne), incorporated on May 19, 1981, is a global water management, construction and drilling company. The Firm provides water, mineral and energy solutions. The Firm operates through four divisions: Water Resources, Inliner, Heavy Civil and Mineral Services. Layne provides construction solutions for the management of water in various industries and environments. The Firm provides drilling solutions for water management, mineral services and specialty drilling needs. Layne serves customers, such as government agencies, investor-owned utilities, industrial companies, global mining companies, consulting engineering firms, heavy civil construction contractors, gas and oil companies, power companies and agribusiness.
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