Lineage (NASDAQ:LINE) Given New $76.00 Price Target at Scotiabank

Lineage (NASDAQ:LINE) had its target price decreased by Scotiabank from $94.00 to $76.00 in a report published on Tuesday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

A number of other equities analysts have also weighed in on the stock. The Goldman Sachs Group lowered their price target on shares of Lineage from $104.00 to $89.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Capital One Financial assumed coverage on Lineage in a report on Monday, September 16th. They issued an “overweight” rating and a $91.00 price target for the company. Mizuho started coverage on Lineage in a research note on Monday, August 19th. They set a “neutral” rating and a $86.00 price objective on the stock. Baird R W upgraded Lineage to a “strong-buy” rating in a report on Monday, August 19th. Finally, KeyCorp initiated coverage on Lineage in a report on Monday, August 19th. They set an “overweight” rating and a $92.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lineage has a consensus rating of “Moderate Buy” and an average price target of $89.63.

Lineage Price Performance

Shares of Lineage stock opened at $62.62 on Tuesday. The firm’s 50 day moving average price is $70.04. Lineage has a 12 month low of $61.00 and a 12 month high of $89.85. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the business posted $0.75 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. On average, research analysts predict that Lineage will post 3 EPS for the current fiscal year.

Institutional Trading of Lineage

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in shares of Lineage in the 3rd quarter valued at $265,895,000. Victory Capital Management Inc. acquired a new position in Lineage in the 3rd quarter valued at about $176,790,000. Principal Financial Group Inc. acquired a new position in Lineage in the 3rd quarter valued at about $173,115,000. Baillie Gifford & Co. purchased a new stake in Lineage during the third quarter worth about $134,351,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Lineage during the third quarter worth about $131,875,000.

About Lineage

Lineage, Inc is the world’s largest global temperature-controlled warehouse REIT with a network of over 480 strategically located facilities totaling over 84.1 million square feet and 3.0 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world’s largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world.