Wells Fargo & Company Issues Pessimistic Forecast for Lineage (NASDAQ:LINE) Stock Price

Lineage (NASDAQ:LINE) had its price objective dropped by stock analysts at Wells Fargo & Company from $64.00 to $48.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 2.07% from the stock’s previous close.

Several other research firms have also weighed in on LINE. Robert W. Baird reduced their price objective on shares of Lineage from $70.00 to $64.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Bank of America cut Lineage from a “buy” rating to a “neutral” rating and set a $49.00 price target on the stock. in a report on Tuesday, May 6th. Evercore ISI reduced their price objective on Lineage from $68.00 to $59.00 and set an “in-line” rating for the company in a research note on Thursday, May 1st. Morgan Stanley decreased their price target on Lineage from $80.00 to $75.00 and set an “overweight” rating for the company in a research report on Tuesday, April 1st. Finally, Barclays began coverage on Lineage in a research note on Wednesday, April 9th. They issued an “overweight” rating and a $59.00 price target on the stock. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.58.

Lineage Stock Down 1.3%

LINE stock opened at $47.03 on Monday. The firm’s 50-day moving average is $53.69 and its two-hundred day moving average is $58.07. The company has a market capitalization of $10.75 billion and a price-to-earnings ratio of -14.62. Lineage has a 52 week low of $42.05 and a 52 week high of $89.85. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.

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

Insider Buying and Selling

In other news, insider Sudarsan V. Thattai acquired 4,420 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The stock was acquired at an average cost of $45.23 per share, with a total value of $199,916.60. Following the acquisition, the insider now owns 4,420 shares in the company, valued at approximately $199,916.60. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Adam Matthew Schwartz Forste bought 10,949 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The stock was purchased at an average price of $44.93 per share, for a total transaction of $491,938.57. Following the acquisition, the chairman now directly owns 35,266 shares in the company, valued at approximately $1,584,501.38. This trade represents a 45.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 51,186 shares of company stock worth $2,666,159. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Lineage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Capital LLC grew its stake in shares of Lineage by 25.6% in the fourth quarter. Renaissance Capital LLC now owns 83,446 shares of the company’s stock worth $4,887,000 after acquiring an additional 16,990 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC grew its position in Lineage by 10.5% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 602,803 shares of the company’s stock worth $35,306,000 after purchasing an additional 57,302 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Lineage by 130.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 1,070,915 shares of the company’s stock valued at $62,723,000 after buying an additional 605,670 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of Lineage by 16.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 175,000 shares of the company’s stock valued at $10,250,000 after buying an additional 25,000 shares during the period. Finally, Entropy Technologies LP bought a new stake in shares of Lineage in the fourth quarter valued at about $305,000.

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.