Lineage (NASDAQ:LINE) Stock Price Target Lowered at Robert W. Baird

Lineage (NASDAQ:LINE) had its target price dropped by research analysts at Robert W. Baird from $43.00 to $40.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird‘s target price indicates a potential upside of 14.68% from the company’s previous close.

Several other research analysts have also commented on LINE. Mizuho upgraded shares of Lineage from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $40.00 to $47.00 in a research note on Tuesday, July 28th. JPMorgan Chase & Co. decreased their target price on Lineage from $40.00 to $37.00 and set an “underweight” rating for the company in a report on Thursday, October 15th. The Goldman Sachs Group set a $44.00 price objective on shares of Lineage and gave the company a “buy” rating in a research note on Monday, October 26th. Scotiabank lowered their target price on Lineage from $44.00 to $39.00 and set a “hold” rating on the stock in a research note on Friday, October 2nd. Finally, Citigroup increased their price target on shares of Lineage from $42.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Lineage currently has a consensus rating of “Hold” and a consensus price target of $41.73.

Lineage Stock Performance

LINE stock opened at $34.88 on Wednesday. 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 has a market cap of $7.94 billion, a price-to-earnings ratio of 87.20 and a beta of 0.79. The business’s fifty day simple moving average is $36.20 and its two-hundred day simple moving average is $38.75. Lineage has a twelve month low of $31.33 and a twelve month high of $45.75.

Insider Activity at Lineage

In other news, Chairman Kevin Marchetti purchased 25,000 shares of Lineage stock in a transaction dated Friday, August 28th. The shares were purchased at an average price of $39.50 per share, with a total value of $987,500.00. Following the transaction, the chairman owned 138,690 shares in the company, valued at $5,478,255. This represents a 21.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 71.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lineage

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Lineage in the second quarter valued at $227,511,000. Bank of America Corp DE acquired a new position in shares of Lineage during the 2nd quarter worth about $156,045,000. HighTower Advisors LLC boosted its position in shares of Lineage by 6.1% during the 2nd quarter. HighTower Advisors LLC now owns 2,286,166 shares of the company’s stock worth $98,877,000 after acquiring an additional 130,895 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Lineage in the 2nd quarter valued at about $44,638,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Lineage in the 2nd quarter valued at about $41,271,000.

About Lineage

Lineage, Inc. is a global temperature-controlled warehousing and logistics company. It operates refrigerated and frozen storage facilities that help food producers, retailers, and other customers manage products that require controlled temperatures. Its services include cold storage, food processing and handling, blast freezing, transportation, and other supply-chain solutions. By connecting warehouses with transportation and distribution networks, Lineage supports the movement of perishable goods from producers to consumers.