Weakness Seen in Layne (LAYN): Stock Tanks 14.2% - Tale of the Tape
Layne Christensen Company ( LAYN ) saw a big move last session, as the company's shares fell over 14% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $14.18 to $15.46 in the past one-month time frame.
The provider of water management, construction, and drilling services has seen a mixed track record when it comes to current year estimate revisions over the past few weeks with no change, and the consensus for earnings hasn't been in a trend either. This recent price action is discouraging, so make sure to keep a close watch of this firm in the near future, and especially on earnings estimates following the recent slump.
LAYN currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same sector include Willdan Group, Inc. ( WLDN ), Quanta Services, Inc. ( PWR ) and EMCOR Group Inc. ( EME ). While Willdan Group holds a Zacks Rank #1 (Strong Buy), Quanta Services and EMCOR Group carry a Zacks Rank #2 (Buy).
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