The Goldman Sachs Group Issues Pessimistic Forecast for Lineage (NASDAQ:LINE) Stock Price

Lineage (NASDAQ:LINE) had its target price reduced by analysts at The Goldman Sachs Group from $74.00 to $63.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 33.19% from the company’s previous close.

Several other research firms have also weighed in on LINE. Citigroup started coverage on shares of Lineage in a report on Friday, March 28th. They issued a “neutral” rating and a $64.00 target price on the stock. UBS Group lowered their target price on shares of Lineage from $62.00 to $49.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Evercore ISI lowered their target price on shares of Lineage from $68.00 to $59.00 and set an “in-line” rating on the stock in a report on Thursday, May 1st. Bank of America lowered shares of Lineage from a “buy” rating to a “neutral” rating and set a $49.00 price objective on the stock. in a report on Tuesday, May 6th. Finally, Piper Sandler decreased their price objective on shares of Lineage from $75.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Ten investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.74.

Lineage Trading Up 3.1%

Shares of Lineage stock opened at $47.30 on Wednesday. The firm has a market capitalization of $10.81 billion and a PE ratio of -14.69. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. The company’s fifty day moving average price is $53.91 and its two-hundred day moving average price is $58.50. Lineage has a 52-week low of $42.05 and a 52-week high of $89.85.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.34 billion. The company’s revenue was down 2.7% on a year-over-year basis. On average, analysts expect that Lineage will post 2.34 EPS for the current year.

Insider Activity at Lineage

In related news, Chairman Kevin Patrick Marchetti bought 11,500 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $43.75 per share, for a total transaction of $503,125.00. Following the acquisition, the chairman now owns 27,733 shares of the company’s stock, valued at approximately $1,213,318.75. This represents a 70.84% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the business’s stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $60.50 per share, for a total transaction of $1,471,178.50. Following the purchase, the chairman now owns 24,317 shares of the company’s stock, valued at approximately $1,471,178.50. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have bought 51,186 shares of company stock worth $2,666,159 in the last ninety days. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LINE. GAMMA Investing LLC lifted its stake in Lineage by 7,466.7% in the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after buying an additional 448 shares in the last quarter. FIL Ltd bought a new position in shares of Lineage during the 4th quarter worth approximately $29,000. Costello Asset Management INC bought a new position in shares of Lineage during the 1st quarter worth approximately $29,000. Salomon & Ludwin LLC bought a new position in shares of Lineage during the 1st quarter worth approximately $34,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Lineage by 170.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock worth $43,000 after acquiring an additional 460 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.