UP!

LAYN $15.41

LAYN target price
15.41
0
0
Layne Christensen Company
Type
Public (NASDAQ: LAYN)
Industry Drilling
Predecessor Layne, Inc. (established 1882)
Founded 1998
Founder Mahlon E. Layne
Headquarters The Woodlands, Texas, United States
Area served
Western Hemisphere
Products Water Treatment Equipment, Filter Media, Cured in place pipe renewal
Services HydroGeologic Services, Drilling, Well and Pump Maintenance, Water Treatment, Pipeline Installation, Sewer Rehabilitation, Mineral Exploration, Unconventional Natural Gas Production, Soil Stabilization and Dewatering.
Number of employees
4,500
Divisions Water Resources, Mineral Exploration, Geoconstruction services and Energy services
Subsidiaries 50 Offices worldwide
Website [1]

Layne Christensen Company is a U.S.-based global water management, construction and drilling company, providing responsible solutions for water, mineral and energy resources. The company has two divisions, which are Water Resources-Mineral Services and Inliner.

Layne provides total water management solutions for government agencies, commercial water suppliers, industrial facilities, and energy companies. Their teams are responsible for effectively managing water in every phase of its lifecycle – supply, treatment, delivery and maintenance. Throughout each phase, Layne works to ensure compliance with complex state and federal regulations, and to meet increasingly high standards for quality, reliability and efficiency.

The geotechnical capabilities of Layne allows them to improve soil conditions and support subterranean structures in underground construction projects where effective water management is critical, such as dams and levees, tunnels, water lines, subways, highways and marine facilities.

Layne specialists are able to define the source, depth, magnitude and overall feasibility of water aquifers, and drill high-volume wells suitable for supplying water to government agencies, industrial and agricultural customers. Their mineral exploration teams extract contaminant-free samples that accurately reflect the underlying mineral deposits. Also, Layne is able to drill deep injection wells to facilitate the disposal of treated wastewater.

Water Resources provides sustainable solutions for every aspect of water supply system development and technology applications for heavy civil construction, hydrology, water treatment systems and services, as well as pipelines and transmission mains.

Mineral Exploration Division conducts primarily above ground drilling activities, including all phases of core drilling, reverse circulation, dual tube, hammer and rotary air-blast methods. Layne's service offerings include both exploratory and directional drilling for major gold, copper and other base metal producers.

Energy Services offers water solutions to the Oil & Gas industry concerning sourcing, transfer services, treatment and vibration technology.

Layne Inliner, LLC is the second largest cured-in-place pipe (CIPP) lining company in the United States. Layne began as the first U.S. licensee of the Inliner technology in 1991 and since that time have acquired the technology company, Inliner Technologies, LLC, and the liner manufacturer, Liner Products, LLC.

Layne identifies and develops new water sources, delivers usable water to communities and facilities around the world, recycles water from oil and gas operations, rehabilitates existing pipelines, and safely returns wastewater to the natural environment. They work to procure a responsible solution for any water challenge. Layne's teams effectively manage water in every phase of its lifecycle.

Layne's service offerings include both exploratory and definitional drilling for major gold, copper and other base metal producers. They conduct primarily above ground drilling activities, including all phases of core drilling, reverse circulation, dual tube, hammer and rotary air-blast methods.

Layne works to create solutions that include sourcing, delivery, storage, treatment, recycling and disposal in Upstream Oil and Gas operations. Making safe, environmentally sound and socially responsible decisions that are on time, and on budget with execution along the complete lifecycle of water is one of Layne's priorities.

Layne started in 1882 as a water-well drilling company in South Dakota. Through various acquisitions, proprietary rights ownerships, and expansions, Layne now has over 40 offices and affiliates in the United States, Canada, Mexico, and South America. During its growth, Layne has evolved from a water-well drilling company to global water management, construction and drilling company that provides services to the water, mineral and energy sectors.

In 2010, Layne Christensen assisted in the rescue of 33 miners trapped for 69 days as a result of the Copiapó mining accident in Chile.

In 2012, it was announced that certain officers and directors at Layne Christensen Company were under investigation in connection with allegations that certain payments by the company to customs clearing agents in connection with importing equipment into the Democratic Republic of Congo potentially might have violated the U.S. Foreign Corrupt Practices Act. Layne voluntarily alerted the U.S. Securities and Exchange Commission and U.S. Department of Justice of the possible discrepancies. Necessary disciplinary actions were taken toward involved parties.

On Thursday, August 30, 2012, the CEO of Layne Christensen Co., Rene Robichaud rang the opening bell at the Nasdaq Stock Market in honor of the company's 130 anniversary.

On August 5, 2010, a cave in traps 33 miners underground, and rescue efforts were deployed immediately. Through a joint effort, Layne and their Latine American affiliate, Geotec, the Chilean miners were rescued after 69 days underground.

Large escape boreholes were drilled simultaneously using different equipment provided by multiple international corporations with three different strategies.

The Layne and Geotec team applied experience from worldwide operations and well over 100 years of drilling experience; Minera Collahuasi and Minera Escondida funded the project and also provided a team of geologists and engineers. On August 15, Geotec uses a Schramm Inc. 685W and two diamond rigs (CS 3001 and CS 4002) for the first drilling stage. Then on August 26, Geotec works to ensure that the 5 1/2-inch 6C pilot hole is drilling to reach the underground workshop. After five days of constant drilling, the third attempt succeeds. As drilling progresses, the T-130XD comes to a halt at 880 feet when the "nose" of the 12-inch hammer bit breaks. It's a setback when the metal piece blocks the well. At this time, Layne drillers flown from Afghanistan and helpers flown from the U.S. arrive. The entire team is now complete and works to clear the hole. Reaming the hole to 12 inches is completed at 2,040 feet, proving the theory of following the 5 1/2-inch hole to the mine workshop and then the hole is reamed to 28 inches to allow for the rescue pod, ''Fénix'' capsules. On October 9, cheers go up as the Plan B drill rig reaches its target - the mine workshop, allowing the rescue to begin. Finally, on October 12, final preparations and test runs are carried out. Rescuers begin pulling miners to safety in the ''Fénix'' capsules.The whole world watched as the miners emerged to safety, culminating a multinational, multi-disciplined team effort involving coordination and cooperation between the teams.

Following the rescue operations Layne and Geotec received official recognition from U.S. President Barack Obama at the White House.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS

Ratings

2016-06-08 Reiterated Rating Jefferies Group Hold
2016-04-18 Boost Price Target Maxim Group Buy $8.00 to $9.00
2016-04-18 Reiterated Rating Jefferies Group Hold $7.50 to $7.25
2016-03-08 Reiterated Rating DA Davidson Hold
2016-03-07 Boost Price Target DA Davidson Neutral $4.50 to $8.00
2016-02-19 Initiated Coverage Maxim Group Buy $8.00
2015-08-17 Lower Price Target DA Davidson Neutral $10.00 to $9.00
2015-06-09 Boost Price Target DA Davidson Neutral $9.00 to $10.00
2015-03-09 Reiterated Rating Jefferies Group Hold $12.00 to $7.00
2014-09-18 Reiterated UBS Neutral $14 to $12
2014-09-15 Lower Price Target DA Davidson $13.00 to $12.00
2014-09-10 Reiterated Rating Jefferies Group Hold $14.50 to $12.00
2014-07-22 Lower Price Target DA Davidson Neutral $15.00 to $13.00
2014-06-17 Lower Price Target Jefferies Group Hold $17.00 to $14.50
2014-05-05 Lower Price Target Jefferies Group $19.00 to $17.00
2014-01-27 Initiated Coverage Jefferies Group Hold $19.00
2012-08-31 Downgrade UBS Neutral to Sell $21 to $17
2012-06-19 Initiated Ladenburg Thalmann Buy $25
2012-06-06 Upgrade Boenning & Scattergood Neutral to Outperform $24
2011-09-29 Upgrade UBS Sell to Neutral $26 to $24
2011-09-08 Downgrade Boenning & Scattergood Outperform to Neutral
2011-04-21 Initiated Boenning & Scattergood Outperform $36
2010-12-09 Reiterated UBS Sell $24.50 to $26
2010-06-22 Reiterated UBS Sell $23 to $25
2010-02-05 Upgrade DA Davidson Underperform to Neutral $24
2009-03-31 Upgrade Janney Mntgmy Scott Sell to Neutral
2009-01-27 Downgrade UBS Neutral to Sell
2009-01-13 Initiated Janney Mntgmy Scott Sell $18
2009-01-13 Downgrade Hilliard Lyons Buy to Long-term Buy $23 to $9
2008-12-05 Reiterated UBS Neutral $22 to $14
2008-11-24 Upgrade DA Davidson Underperform to Neutral $21 to $20
2008-08-28 Reiterated Boenning & Scattergood Market Outperform $52 to $58
2008-06-04 Reiterated UBS Neutral $46 to $50
2016-06-08 Reiterated Rating Jefferies Group Hold
2016-04-18 Boost Price Target Maxim Group Buy $8.00 to $9.00
2016-04-18 Reiterated Rating Jefferies Group Hold $7.50 to $7.25
2016-03-08 Reiterated Rating DA Davidson Hold
2016-03-07 Boost Price Target DA Davidson Neutral $4.50 to $8.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
Reynolds Jeffrey J 2.27%  (448775) LAYN /
SCHMITT ANDREW B 0.66%  (131199) EEFT / LAYN / RAIL /
ROBICHAUD RENE J President & CEO 0.36%  (71879) LAYN /
Caliel Michael J President and CEO 0.34%  (66299) LAYN /
BROWN DAVID A B Chairman of the Board 0.25%  (50213) EME / GLPW / HERO / LAYN / TCCO /
GILMORE ROBERT R 0.12%  (22962) LAYN /
NESSER JOHN T III 0.12%  (22835) LAYN / THR /
BUTLER SAMUEL J 0.10%  (20309) LAYN /
OBUS NELSON 0.09%  (18012) BZC / GLPW / LAYN / MVC /
ANDERSON J MICHAEL CFO and Senior Vice President 0.05%  (9000) EXH / EXLP / LAYN / SXE / UCO /
PURLEE LARRY Division Pres.-Layne Inliner 0.04%  (8372) LAYN /
CROOKE STEVEN F Sr. VP-General Counsel 0.04%  (6921) LAYN /
HELFET ANTHONY B 0.02%  (4553) LAYN /
CURTIS LISA Chief Accounting Officer 0.01%  (1968) LAYN /
Maher Kevin P Division Pres.-Min Ex 0.01%  (1335) LAYN /