Lineage (NASDAQ:LINE) Price Target Lowered to $38.00 at Citigroup

Lineage (NASDAQ:LINE) had its target price lowered by Citigroup from $39.00 to $38.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 5.72% from the company’s previous close.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. decreased their target price on shares of Lineage from $43.00 to $38.00 and set an “underweight” rating on the stock in a report on Friday, November 14th. Scotiabank decreased their price target on shares of Lineage from $42.00 to $37.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 12th. Truist Financial lowered their price objective on Lineage from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, August 22nd. Royal Bank Of Canada reduced their target price on Lineage from $51.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, November 12th. Finally, UBS Group lowered their price target on Lineage from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, Lineage presently has an average rating of “Hold” and a consensus target price of $44.56.

Lineage Price Performance

LINE traded down $0.41 during trading on Thursday, reaching $35.95. 343,983 shares of the company were exchanged, compared to its average volume of 1,103,353. Lineage has a 12-month low of $32.46 and a 12-month high of $63.88. The company’s 50-day moving average is $37.72 and its two-hundred day moving average is $41.01. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.76. The company has a market cap of $8.21 billion, a price-to-earnings ratio of -45.54 and a beta of -0.16.

Lineage (NASDAQ:LINE) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.07. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.30%.The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the prior year, the business posted $0.90 earnings per share. The company’s revenue was up 3.1% on a year-over-year basis. Research analysts forecast that Lineage will post 2.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Lineage

In related news, Chairman Adam Matthew Schwartz Forste bought 74,000 shares of the business’s stock in a transaction on Monday, November 10th. The stock was acquired at an average price of $33.83 per share, with a total value of $2,503,420.00. Following the transaction, the chairman owned 109,266 shares in the company, valued at approximately $3,696,468.78. This trade represents a 209.83% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Robb A. Lemasters bought 30,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were bought at an average price of $33.74 per share, with a total value of $1,012,200.00. Following the completion of the purchase, the chief financial officer owned 60,000 shares in the company, valued at approximately $2,024,400. The trade was a 100.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 129,000 shares of company stock worth $4,366,940 over the last 90 days. Company insiders own 71.90% of the company’s stock.

Institutional Trading of Lineage

A number of hedge funds have recently bought and sold shares of the company. Costello Asset Management INC bought a new stake in Lineage during the 1st quarter worth approximately $29,000. EverSource Wealth Advisors LLC increased its stake in shares of Lineage by 172.4% in the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after purchasing an additional 362 shares in the last quarter. Signaturefd LLC raised its position in shares of Lineage by 132.3% during the 2nd quarter. Signaturefd LLC now owns 648 shares of the company’s stock valued at $28,000 after purchasing an additional 369 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Lineage by 82.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock valued at $25,000 after buying an additional 300 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Lineage by 170.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock worth $43,000 after buying an additional 460 shares during the period.

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.