Brokerages Set Lineage, Inc. (NASDAQ:LINE) Price Target at $44.56

Shares of Lineage, Inc. (NASDAQ:LINE) have been assigned an average rating of “Hold” from the twenty analysts that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $44.5556.

A number of equities research analysts have commented on LINE shares. Morgan Stanley reduced their price target on Lineage from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Monday, September 22nd. Citigroup reduced their target price on Lineage from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, December 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Lineage in a research report on Monday. Zacks Research upgraded shares of Lineage from a “strong sell” rating to a “hold” rating in a research report on Monday, December 1st. Finally, The Goldman Sachs Group reduced their price objective on shares of Lineage from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, November 25th.

Insider Activity

In other Lineage news, CFO Robert Crisci purchased 10,000 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was purchased at an average cost of $34.56 per share, for a total transaction of $345,600.00. Following the acquisition, the chief financial officer owned 107,859 shares in the company, valued at approximately $3,727,607.04. The trade was a 10.22% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Kevin Patrick Marchetti acquired 14,500 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was acquired at an average cost of $33.72 per share, for a total transaction of $488,940.00. Following the completion of the purchase, the chairman directly owned 89,168 shares in the company, valued at $3,006,744.96. This trade represents a 19.42% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 129,000 shares of company stock worth $4,366,940. 71.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Lineage

Several institutional investors have recently added to or reduced their stakes in LINE. Jones Financial Companies Lllp boosted its holdings in shares of Lineage by 82.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock worth $25,000 after buying an additional 300 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Lineage by 172.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after acquiring an additional 362 shares during the period. Signaturefd LLC boosted its stake in Lineage by 132.3% during the second quarter. Signaturefd LLC now owns 648 shares of the company’s stock worth $28,000 after acquiring an additional 369 shares in the last quarter. Caitlin John LLC bought a new position in Lineage during the third quarter worth $31,000. Finally, Allworth Financial LP grew its holdings in Lineage by 426.4% in the second quarter. Allworth Financial LP now owns 758 shares of the company’s stock worth $33,000 after purchasing an additional 614 shares during the period.

Lineage Price Performance

LINE stock opened at $34.59 on Friday. The company has a market capitalization of $7.90 billion, a P/E ratio of -43.78 and a beta of -0.16. The company has a fifty day moving average price of $37.46 and a 200-day moving average price of $40.66. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.86 and a current ratio of 0.99. Lineage has a 52-week low of $32.46 and a 52-week high of $63.61.

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

About Lineage

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.