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TheStreet Wire

Layne Christensen Stock Falls On Unusually High Volume (LAYN)

By TheStreet Wire 02/29/12 - 04:30 PM EST

Find out if (LAYN) is in Cramer's Portfolio.

NEW YORK (TheStreet) -- Layne Christensen Company (Nasdaq:LAYN) is trading at unusually high volume Wednesday with 836,474 shares changing hands. It is currently at 6.9 times its average daily volume and trading down $1.16 (-4.6%) at $24.19 as of 4:04 p.m. ET.

Layne Christensen has a market cap of $471.4 million and is part of the industrial goods sector and materials & construction industry. Shares are up 4.8% year to date as of the close of trading on Tuesday.

Layne Christensen Company provides drilling, water treatment, and construction services, and related products to water infrastructure and mineral exploration markets. The company has a P/E ratio of 12.8, above the average materials & construction industry P/E ratio of 11.4 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Layne Christensen as a hold. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income and revenue growth. However, as a counter to these strengths, we also find weaknesses including poor profit margins, weak operating cash flow and a generally disappointing performance in the stock itself. You can view the full Layne Christensen Ratings Report.

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