Boenning & Scattergood Downgrades Layne Christensen (LAYN) to Neutral
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Price: $22.32 +1.41%
Rating Summary:
3 Buy, 2 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
3 Buy, 2 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade LAYN Now!
Boenning & Scattergood downgraded Layne Christensen (NASDAQ: LAYN) from Outperform to Neutral.
The firm comments, "We are strong believers that Layne is continuing to make the appropriate moves to transform the company’s culture and business into a solutions based organization - where its multiple divisions share expertise and industry knowledge to create solutions and drive sales. However, we anticipate a difficult fiscal 1H F2014 from a business and operational standpoint. We anticipated Min-Ex being down 20% in F2014; we now expect it to be down 40%."
For an analyst ratings summary and ratings history on Layne Christensen click here. For more ratings news on Layne Christensen click here.
Shares of Layne Christensen closed at $22.68 yesterday, with a 52 week range of $17.46-$26.80.
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The firm comments, "We are strong believers that Layne is continuing to make the appropriate moves to transform the company’s culture and business into a solutions based organization - where its multiple divisions share expertise and industry knowledge to create solutions and drive sales. However, we anticipate a difficult fiscal 1H F2014 from a business and operational standpoint. We anticipated Min-Ex being down 20% in F2014; we now expect it to be down 40%."
For an analyst ratings summary and ratings history on Layne Christensen click here. For more ratings news on Layne Christensen click here.
Shares of Layne Christensen closed at $22.68 yesterday, with a 52 week range of $17.46-$26.80.
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