Scotiabank Has Lowered Expectations for Lineage (NASDAQ:LINE) Stock Price

Lineage (NASDAQ:LINE) had its price target decreased by investment analysts at Scotiabank from $44.00 to $39.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 14.81% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Evercore set a $44.00 target price on Lineage in a research report on Monday, June 8th. UBS Group boosted their price objective on shares of Lineage from $35.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. Royal Bank Of Canada raised their target price on shares of Lineage from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, August 17th. Robert W. Baird set a $43.00 price target on shares of Lineage in a report on Thursday, August 6th. Finally, The Goldman Sachs Group set a $53.00 price target on shares of Lineage in a report on Wednesday, August 12th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lineage presently has a consensus rating of “Hold” and a consensus price target of $43.80.

Lineage Stock Down 0.4%

Shares of NASDAQ LINE opened at $33.97 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 0.84. Lineage has a 12-month low of $31.33 and a 12-month high of $45.75. The firm’s 50-day moving average price is $39.52 and its 200-day moving average price is $39.57. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of -47.18 and a beta of 0.87.

Lineage (NASDAQ:LINE) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.98. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%.The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities research analysts anticipate that Lineage will post 2.5 EPS for the current fiscal year.

Insider Buying and Selling at Lineage

In other news, CFO Robb A. Lemasters purchased 20,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were acquired at an average price of $41.33 per share, with a total value of $826,600.00. Following the transaction, the chief financial officer owned 49,500 shares of the company’s stock, valued at $2,045,835. This represents a 67.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Kevin Marchetti purchased 25,000 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were purchased at an average price of $39.50 per share, for a total transaction of $987,500.00. Following the purchase, the chairman owned 138,690 shares of the company’s stock, valued at approximately $5,478,255. This trade represents a 21.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 71.60% of the company’s stock.

Institutional Trading of Lineage

A number of hedge funds have recently added to or reduced their stakes in the business. Paralel Advisors LLC bought a new position in Lineage during the 2nd quarter worth about $26,000. Rothschild Investment LLC raised its holdings in shares of Lineage by 575.2% in the 4th quarter. Rothschild Investment LLC now owns 736 shares of the company’s stock valued at $26,000 after purchasing an additional 627 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Lineage in the 2nd quarter worth approximately $48,000. Parallel Advisors LLC lifted its position in shares of Lineage by 172.7% in the 1st quarter. Parallel Advisors LLC now owns 1,650 shares of the company’s stock worth $54,000 after purchasing an additional 1,045 shares during the period. Finally, Caitlin John LLC bought a new position in shares of Lineage during the second quarter valued at approximately $83,000.

About Lineage

Lineage, Inc is a global temperature-controlled industrial real estate and logistics company. It owns, operates and develops cold-storage facilities that help preserve and move perishable food products, including meat, seafood, dairy, fruits, vegetables and prepared foods.

The company provides a range of supply-chain services in addition to refrigerated and frozen warehousing. These services include transportation, distribution, port and rail logistics, food processing support, inventory management and other technology-enabled solutions designed to improve the efficiency and reliability of the food supply chain.

Lineage serves customers across North America, Europe and the Asia-Pacific region, with facilities located near major transportation hubs, ports and population centers.