Lineage (NASDAQ:LINE) Price Target Lowered to $44.00 at Scotiabank

Lineage (NASDAQ:LINE) had its price objective lowered by Scotiabank from $45.00 to $44.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s target price points to a potential upside of 15.06% from the stock’s current price.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group set a $53.00 target price on shares of Lineage in a report on Wednesday, August 12th. Piper Sandler dropped their price target on Lineage from $46.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, August 27th. Robert W. Baird set a $43.00 price target on Lineage in a research report on Thursday, August 6th. Wall Street Zen raised shares of Lineage from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Evercore set a $44.00 price target on shares of Lineage in a research note on Monday, June 8th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $44.13.

Lineage Stock Up 0.8%

Shares of Lineage stock traded up $0.30 during midday trading on Thursday, hitting $38.24. The company had a trading volume of 392,260 shares, compared to its average volume of 1,105,279. The stock has a market capitalization of $8.71 billion, a P/E ratio of -53.04 and a beta of 0.82. The company has a 50 day moving average of $41.15 and a 200 day moving average of $39.82. Lineage has a 52-week low of $31.33 and a 52-week high of $45.75. 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 announced its earnings results on Wednesday, August 5th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.98. Lineage had a negative net margin of 3.15% and a negative return on equity of 1.85%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the business earned $0.81 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts predict that Lineage will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Lineage

In related news, Chairman Kevin Marchetti purchased 25,000 shares of Lineage stock in a transaction on Friday, August 28th. The shares were bought at an average price of $39.50 per share, with a total value of $987,500.00. Following the transaction, the chairman directly owned 138,690 shares of the company’s stock, valued at approximately $5,478,255. This trade represents a 21.99% 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 the SEC website. Also, CFO Robb A. Lemasters acquired 20,000 shares of the company’s stock in a transaction on Friday, August 7th. The stock was 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 owned 49,500 shares in the company, valued at approximately $2,045,835. The trade was a 67.80% increase in their position. The SEC filing for this purchase provides additional information. 71.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC acquired a new position in shares of Lineage in the 2nd quarter valued at $232,000. Integrated Wealth Concepts LLC boosted its stake in shares of Lineage by 96.5% during the second quarter. Integrated Wealth Concepts LLC now owns 15,039 shares of the company’s stock worth $650,000 after buying an additional 7,386 shares during the period. NewEdge Advisors LLC grew its holdings in shares of Lineage by 37,773.3% during the second quarter. NewEdge Advisors LLC now owns 5,681 shares of the company’s stock worth $246,000 after buying an additional 5,666 shares during the last quarter. IFP Advisors Inc raised its stake in Lineage by 180.5% during the 2nd quarter. IFP Advisors Inc now owns 2,794 shares of the company’s stock valued at $121,000 after acquiring an additional 1,798 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Lineage during the 2nd quarter worth approximately $1,813,000.

Lineage Company Profile

Lineage, Inc (NASDAQ: LINE) is a global real estate investment trust focused on temperature-controlled industrial properties and the food supply chain. The company owns, operates and develops a network of cold-storage facilities designed to preserve perishable products, including frozen and refrigerated food, from production through distribution and retail.

Lineage provides temperature-controlled warehousing, inventory management, transportation coordination and related supply-chain services.