Scotiabank Issues Pessimistic Forecast for Lineage (NASDAQ:LINE) Stock Price

Lineage (NASDAQ:LINE) had its price objective decreased by stock analysts at Scotiabank from $44.00 to $39.00 in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage currently has a “hold” rating on the stock. Scotiabank’s price objective indicates a potential upside of 13.57% from the company’s previous close.

A number of other brokerages have also recently commented on LINE. Robert W. Baird set a $43.00 target price on shares of Lineage in a report on Thursday, August 6th. Wall Street Zen raised shares of Lineage from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Wells Fargo & Company increased their price target on shares of Lineage from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 1st. The Goldman Sachs Group set a $53.00 price target on shares of Lineage in a research report on Wednesday, August 12th. Finally, Piper Sandler dropped their price objective on shares of Lineage from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, August 27th. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $43.73.

Lineage Stock Up 1.1%

Shares of NASDAQ:LINE opened at $34.34 on Friday. Lineage has a 52-week low of $31.33 and a 52-week high of $45.75. The firm has a market capitalization of $7.82 billion, a P/E ratio of -47.69 and a beta of 0.86. The stock has a 50 day moving average price of $39.38 and a 200-day moving average price of $39.54. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.78.

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

Insider Activity

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC purchased a new position in Lineage in the 2nd quarter worth about $232,000. Integrated Wealth Concepts LLC boosted its holdings in shares of Lineage by 96.5% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 15,039 shares of the company’s stock valued at $650,000 after acquiring an additional 7,386 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Lineage by 37,773.3% during the 2nd quarter. NewEdge Advisors LLC now owns 5,681 shares of the company’s stock valued at $246,000 after acquiring an additional 5,666 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Lineage by 180.5% in the second quarter. IFP Advisors Inc now owns 2,794 shares of the company’s stock worth $121,000 after acquiring an additional 1,798 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Lineage during the second quarter valued at approximately $1,813,000.

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.