Mizuho Lowers Lineage (NASDAQ:LINE) Price Target to $40.00

Lineage (NASDAQ:LINE) had its price target dropped by analysts at Mizuho from $44.00 to $40.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s target price would indicate a potential upside of 13.03% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Barclays decreased their target price on shares of Lineage from $51.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. Wells Fargo & Company cut their price target on shares of Lineage from $48.00 to $43.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 27th. Truist Financial cut their price target on shares of Lineage from $60.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, August 22nd. Piper Sandler reaffirmed a “neutral” rating and issued a $41.00 price objective (down previously from $55.00) on shares of Lineage in a research note on Thursday. Finally, The Goldman Sachs Group cut their price objective on shares of Lineage from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, August 12th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, Lineage has a consensus rating of “Reduce” and a consensus price target of $47.33.

Lineage Stock Performance

LINE stock traded down $2.49 during midday trading on Thursday, reaching $35.39. 906,259 shares of the company’s stock traded hands, compared to its average volume of 1,060,242. The firm has a market capitalization of $8.10 billion, a PE ratio of -12.68 and a beta of -0.19. The company has a 50-day moving average price of $40.26 and a two-hundred day moving average price of $43.08. Lineage has a 52 week low of $35.34 and a 52 week high of $68.81. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.96.

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 5.76% and a negative net margin of 10.57%.The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the business earned $0.90 earnings per share. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, equities analysts anticipate that Lineage will post 2.34 EPS for the current year.

Insider Buying and Selling at Lineage

In other news, Chairman Kevin Patrick Marchetti purchased 12,345 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $40.44 per share, with a total value of $499,231.80. Following the transaction, the chairman directly owned 74,668 shares of the company’s stock, valued at approximately $3,019,573.92. This represents a 19.81% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sudarsan V. Thattai bought 3,563 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was bought at an average cost of $42.45 per share, with a total value of $151,249.35. Following the completion of the transaction, the insider owned 7,983 shares in the company, valued at approximately $338,878.35. This trade represents a 80.61% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 39,448 shares of company stock valued at $1,645,752 in the last three months. 71.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lineage

Several institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Lineage in the 2nd quarter worth about $606,642,000. Price T Rowe Associates Inc. MD lifted its position in shares of Lineage by 75.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,364,697 shares of the company’s stock worth $255,903,000 after purchasing an additional 1,880,587 shares during the period. Darlington Partners Capital Management LP lifted its position in shares of Lineage by 5.2% in the 2nd quarter. Darlington Partners Capital Management LP now owns 3,527,000 shares of the company’s stock worth $153,495,000 after purchasing an additional 175,000 shares during the period. State Street Corp lifted its position in shares of Lineage by 8.9% in the 2nd quarter. State Street Corp now owns 1,780,270 shares of the company’s stock worth $78,402,000 after purchasing an additional 145,742 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Lineage by 4.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,353,478 shares of the company’s stock worth $58,915,000 after purchasing an additional 59,781 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.