Citigroup Lowers Lineage (NASDAQ:LINE) Price Target to $38.00

by · The Markets Daily

Lineage (NASDAQ:LINE – Get Free Report) had its target price cut by research analysts at Citigroup from $39.00 to $38.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price objective would indicate a potential upside of 7.56% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Zacks Research upgraded Lineage from a “strong sell” rating to a “hold” rating in a research report on Monday, December 1st. Mizuho lowered their target price on Lineage from $44.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Piper Sandler reiterated a “neutral” rating and issued a $41.00 price target (down from $55.00) on shares of Lineage in a research report on Thursday, November 6th. Wells Fargo & Company reduced their price objective on shares of Lineage from $43.00 to $32.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 25th. Finally, The Goldman Sachs Group lowered 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. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $44.56.

View Our Latest Stock Analysis on LINE

Lineage Stock Down 1.9%

Lineage stock opened at $35.33 on Thursday. Lineage has a 52 week low of $32.46 and a 52 week high of $63.88. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of -44.72 and a beta of -0.16. The company’s 50-day moving average price is $37.63 and its two-hundred day moving average price is $40.89. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.76.

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

Insider Buying and Selling

In other news, Chairman Adam Matthew Schwartz Forste purchased 74,000 shares of Lineage stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average price of $33.83 per share, for a total transaction of $2,503,420.00. Following the transaction, the chairman owned 109,266 shares in the company, valued at $3,696,468.78. The trade was a 209.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert Crisci acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was purchased at an average cost of $34.56 per share, with a total value of $345,600.00. Following the purchase, the chief financial officer directly owned 107,859 shares in the company, valued at approximately $3,727,607.04. This trade represents a 10.22% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 129,000 shares of company stock worth $4,366,940 in the last quarter. 71.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Lineage

Hedge funds have recently modified their holdings of the business. Costello Asset Management INC purchased a new position in shares of Lineage during the first quarter valued at $29,000. EverSource Wealth Advisors LLC lifted its stake in Lineage by 172.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after acquiring an additional 362 shares in the last quarter. Signaturefd LLC boosted its position in Lineage by 132.3% during the 2nd quarter. Signaturefd LLC now owns 648 shares of the company’s stock worth $28,000 after acquiring an additional 369 shares during the period. Jones Financial Companies Lllp grew its stake in Lineage by 82.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock valued at $25,000 after acquiring an additional 300 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Lineage by 170.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock valued at $43,000 after purchasing an additional 460 shares during the period.

Lineage Company Profile

(Get Free Report)

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.

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