Lineage (NASDAQ:LINE) Stock Price Target Lowered at Scotiabank

Lineage (NASDAQ:LINE) had its price objective cut by stock analysts at Scotiabank from $44.00 to $39.00 in a report issued on Friday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 14.81% from the stock’s previous close.

Several other equities research analysts have also commented on LINE. Wells Fargo & Company upped their price objective on Lineage from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 1st. Evercore set a $44.00 price target on Lineage in a report on Monday, June 8th. Truist Financial upped their price target on Lineage from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Piper Sandler decreased their price objective on Lineage from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, August 27th. Finally, Robert W. Baird set a $43.00 price objective on Lineage in a research report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Lineage has a consensus rating of “Hold” and a consensus price target of $43.80.

Lineage Stock Performance

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

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

Insiders Place Their Bets

In related news, CFO Robb LeMasters purchased 20,000 shares of Lineage stock in a transaction on Friday, August 7th. The shares were bought at an average cost of $41.33 per share, for a total transaction of $826,600.00. Following the acquisition, the chief financial officer owned 49,500 shares in the company, valued at approximately $2,045,835. The trade was a 67.80% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Kevin Marchetti purchased 25,000 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was bought 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 in the company, valued at approximately $5,478,255. This represents a 21.99% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 71.60% of the company’s stock.

Institutional Investors Weigh In On Lineage

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Lineage during the 2nd quarter valued at approximately $227,511,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Lineage during the 1st quarter worth approximately $2,009,000. Quantinno Capital Management LP boosted its position in shares of Lineage by 122.2% during the 1st quarter. Quantinno Capital Management LP now owns 104,661 shares of the company’s stock valued at $3,429,000 after acquiring an additional 57,553 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Lineage by 47.9% during the 1st quarter. Hsbc Holdings PLC now owns 176,652 shares of the company’s stock valued at $5,780,000 after acquiring an additional 57,185 shares during the last quarter. Finally, Alberta Investment Management Corp purchased a new position in shares of Lineage in the second quarter valued at $18,117,000.

Lineage Company Profile

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.