Lineage (NASDAQ:LINE) Given New $77.00 Price Target at The Goldman Sachs Group

Lineage (NASDAQ:LINE) had its price objective lowered by equities research analysts at The Goldman Sachs Group from $89.00 to $77.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 32.35% from the company’s previous close.

LINE has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered Lineage from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $78.00 to $75.00 in a research note on Friday, December 20th. Royal Bank of Canada decreased their price objective on Lineage from $94.00 to $81.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. Mizuho dropped their price objective on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. BNP Paribas initiated coverage on shares of Lineage in a research note on Tuesday, January 14th. They set a “neutral” rating and a $61.00 price target on the stock. Finally, Robert W. Baird cut their price objective on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.06.

Lineage Stock Performance

Shares of LINE stock opened at $58.18 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. Lineage has a fifty-two week low of $52.75 and a fifty-two week high of $89.85. The firm has a fifty day moving average price of $60.80.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($3.22). The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The business’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 earnings per share. On average, sell-side analysts expect that Lineage will post 2.33 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP purchased a new stake in Lineage during the third quarter worth approximately $265,895,000. Victory Capital Management Inc. purchased a new stake in Lineage during the 3rd quarter worth $176,790,000. Principal Financial Group Inc. acquired a new stake in Lineage in the 3rd quarter valued at $173,115,000. Baillie Gifford & Co. purchased a new position in Lineage in the third quarter valued at about $134,351,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Lineage during the third quarter worth about $131,875,000.

Lineage Company Profile

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.