Lineage (NASDAQ:LINE) Price Target Raised to $74.00

Lineage (NASDAQ:LINE) had its price target boosted by Scotiabank from $73.00 to $74.00 in a research note released on Monday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Several other analysts have also weighed in on the company. Mizuho decreased their price objective on Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. cut Lineage from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $78.00 to $75.00 in a research report on Friday, December 20th. BNP Paribas began coverage on shares of Lineage in a report on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 price target on the stock. The Goldman Sachs Group dropped their price objective on shares of Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Finally, Royal Bank of Canada decreased their target price on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.06.

Lineage Stock Performance

NASDAQ LINE opened at $57.77 on Monday. Lineage has a twelve month low of $52.75 and a twelve month high of $89.85. The firm has a 50-day simple moving average of $57.99 and a 200 day simple moving average of $66.94. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.

Insider Activity

In other Lineage news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of Lineage stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the purchase, the chairman now owns 24,317 shares of the company’s stock, valued at $1,471,178.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.40% of the company’s stock.

Institutional Trading of Lineage

A number of institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in Lineage during the 4th quarter worth approximately $681,572,000. Vanguard Group Inc. raised its holdings in Lineage by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company’s stock worth $562,003,000 after purchasing an additional 408,526 shares during the period. D1 Capital Partners L.P. boosted its position in shares of Lineage by 257.5% during the fourth quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company’s stock worth $219,848,000 after purchasing an additional 2,703,598 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Lineage in the 3rd quarter valued at $265,895,000. Finally, Janus Henderson Group PLC increased its position in shares of Lineage by 92.1% in the 4th quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company’s stock valued at $189,380,000 after buying an additional 1,550,478 shares in the last quarter.

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.