Lineage (NASDAQ:LINE) Stock Gets Price Target Trim from JPMorgan Chase & Co.

Lineage (NASDAQ:LINE) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $40.00 to $37.00 in a report released on Thursday, Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 7.74% from the company’s previous close.

A number of other brokerages have also weighed in on LINE. Truist Financial lifted their target price on shares of Lineage from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Wall Street Zen upgraded Lineage from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Robert W. Baird set a $43.00 price target on Lineage in a research note on Thursday, August 6th. Wells Fargo & Company upped their target price on shares of Lineage from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 1st. Finally, Scotiabank lowered their target price on shares of Lineage from $44.00 to $39.00 and set a “hold” rating for the company in a report on Friday, October 2nd. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Lineage currently has a consensus rating of “Hold” and an average target price of $43.13.

Lineage Trading Up 1.7%

Shares of NASDAQ LINE traded up $0.56 during midday trading on Thursday, reaching $34.34. The company had a trading volume of 218,441 shares, compared to its average volume of 1,108,931. Lineage has a one year low of $31.33 and a one year high of $45.75. The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 0.84. The firm’s fifty day moving average price is $38.09 and its 200-day moving average price is $39.47. The stock has a market cap of $7.82 billion, a PE ratio of -47.70 and a beta of 0.86.

Lineage (NASDAQ:LINE) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.98. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. On average, equities research analysts anticipate that Lineage will post 2.49 earnings per share for the current year.

Insider Buying and Selling

In other Lineage news, CFO Robb LeMasters purchased 20,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were acquired at an average price of $41.33 per share, for a total transaction of $826,600.00. Following the purchase, the chief financial officer directly owned 49,500 shares of the company’s stock, valued at $2,045,835. The trade was a 67.80% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Kevin Marchetti bought 25,000 shares of the 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 completion of the transaction, the chairman directly owned 138,690 shares of the company’s stock, valued at $5,478,255. This represents a 21.99% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 71.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of LINE. Paralel Advisors LLC purchased a new stake in shares of Lineage during the second quarter worth about $26,000. Global Retirement Partners LLC purchased a new position in Lineage in the 2nd quarter worth approximately $48,000. Parallel Advisors LLC boosted its stake in Lineage by 172.7% in the 1st quarter. Parallel Advisors LLC now owns 1,650 shares of the company’s stock worth $54,000 after purchasing an additional 1,045 shares during the period. Caitlin John LLC bought a new position in Lineage in the 2nd quarter worth approximately $83,000. Finally, Wealth Enhancement Trust Services Inc. lifted its holdings in shares of Lineage by 88.4% in the third quarter. Wealth Enhancement Trust Services Inc. now owns 1,948 shares of the company’s stock worth $66,000 after buying an additional 914 shares in the last quarter.

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.