Lineage (NASDAQ:LINE) Given New $63.00 Price Target at The Goldman Sachs Group

Lineage (NASDAQ:LINE) had its target price lowered by stock analysts at The Goldman Sachs Group from $74.00 to $63.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 33.19% from the company’s previous close.

LINE has been the subject of a number of other reports. Robert W. Baird cut their price objective on Lineage from $70.00 to $64.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Bank of America downgraded Lineage from a “buy” rating to a “neutral” rating and set a $49.00 target price for the company. in a research note on Tuesday, May 6th. Barclays assumed coverage on shares of Lineage in a research report on Wednesday, April 9th. They set an “overweight” rating and a $59.00 price objective for the company. Scotiabank reaffirmed a “sector perform” rating and set a $56.00 price objective (down from $74.00) on shares of Lineage in a research report on Thursday, April 10th. Finally, Royal Bank of Canada reduced their price objective on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Ten investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $69.74.

Lineage Stock Performance

Shares of LINE stock opened at $47.30 on Wednesday. The company has a fifty day moving average price of $53.91 and a two-hundred day moving average price of $58.50. Lineage has a one year low of $42.05 and a one year high of $89.85. The stock has a market cap of $10.81 billion and a P/E ratio of -14.69. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95.

Lineage (NASDAQ:LINE) last issued its earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.34 billion. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, equities analysts predict that Lineage will post 2.34 EPS for the current year.

Insiders Place Their Bets

In other news, insider Sudarsan V. Thattai acquired 4,420 shares of Lineage stock in a transaction on Monday, May 5th. The shares were purchased at an average cost of $45.23 per share, for a total transaction of $199,916.60. Following the completion of the purchase, the insider now directly owns 4,420 shares of the company’s stock, valued at approximately $199,916.60. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Adam Matthew Schwartz Forste acquired 10,949 shares of Lineage stock in a transaction on Thursday, May 8th. The shares were purchased at an average price of $44.93 per share, for a total transaction of $491,938.57. Following the completion of the purchase, the chairman now directly owns 35,266 shares of the company’s stock, valued at approximately $1,584,501.38. This represents a 45.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 51,186 shares of company stock worth $2,666,159 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Lineage

A number of hedge funds have recently made changes to their positions in LINE. GAMMA Investing LLC boosted its stake in shares of Lineage by 7,466.7% in the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after purchasing an additional 448 shares in the last quarter. FIL Ltd acquired a new stake in shares of Lineage in the 4th quarter valued at approximately $29,000. Costello Asset Management INC acquired a new stake in shares of Lineage in the 1st quarter valued at approximately $29,000. Salomon & Ludwin LLC acquired a new stake in shares of Lineage in the 1st quarter valued at approximately $34,000. Finally, PNC Financial Services Group Inc. boosted its position in Lineage by 170.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock worth $43,000 after buying an additional 460 shares during the period.

Lineage Company Profile

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.