Lineage (NASDAQ:LINE) Price Target Lowered to $48.00 at Wells Fargo & Company

Lineage (NASDAQ:LINE) had its price objective decreased by Wells Fargo & Company from $64.00 to $48.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 2.07% from the company’s current price.

Several other research firms also recently commented on LINE. Royal Bank of Canada cut their target price on Lineage from $81.00 to $74.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. 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 report on Thursday, May 1st. UBS Group reduced their target price on shares of Lineage from $62.00 to $49.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Evercore ISI dropped their target price on shares of Lineage from $68.00 to $59.00 and set an “in-line” rating for the company in a research report on Thursday, May 1st. Finally, Piper Sandler reduced their price target on shares of Lineage from $75.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Ten equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $67.58.

Lineage Trading Down 1.3%

Shares of LINE stock opened at $47.03 on Monday. The firm has a fifty day moving average of $53.69 and a 200-day moving average of $58.07. The stock has a market cap of $10.75 billion and a price-to-earnings ratio of -14.62. Lineage has a 52-week low of $42.05 and a 52-week high of $89.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The company’s revenue was down 2.7% on a year-over-year basis. On average, equities research analysts forecast that Lineage will post 2.34 earnings per share for the current fiscal year.

Insider Activity at Lineage

In other news, Chairman Kevin Patrick Marchetti acquired 11,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average price of $43.75 per share, for a total transaction of $503,125.00. Following the completion of the acquisition, the chairman now owns 27,733 shares in the company, valued at $1,213,318.75. This trade represents a 70.84% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the stock in a transaction on Friday, February 28th. The stock was purchased at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the purchase, the chairman now directly owns 24,317 shares of the company’s stock, valued at approximately $1,471,178.50. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 51,186 shares of company stock worth $2,666,159 over the last ninety days. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Lineage

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Capital LLC increased its position in shares of Lineage by 25.6% in the 4th quarter. Renaissance Capital LLC now owns 83,446 shares of the company’s stock valued at $4,887,000 after buying an additional 16,990 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC grew its stake in Lineage by 10.5% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 602,803 shares of the company’s stock valued at $35,306,000 after acquiring an additional 57,302 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Lineage by 130.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,070,915 shares of the company’s stock worth $62,723,000 after acquiring an additional 605,670 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of Lineage by 16.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 175,000 shares of the company’s stock worth $10,250,000 after purchasing an additional 25,000 shares during the period. Finally, Entropy Technologies LP bought a new position in shares of Lineage during the 4th quarter valued at about $305,000.

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.