Lineage (NASDAQ:LINE) Stock Price Target Lowered at UBS Group

Lineage (NASDAQ:LINE) had its target price cut by analysts at UBS Group from $45.00 to $36.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential upside of 8.37% from the stock’s current price.

Several other research analysts have also issued reports on LINE. Mizuho upgraded Lineage from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $40.00 to $47.00 in a research note on Tuesday, July 28th. Scotiabank reduced their target price on shares of Lineage from $44.00 to $39.00 and set a “hold” rating on the stock in a research note on Friday, October 2nd. Robert W. Baird set a $43.00 target price on shares of Lineage in a report on Thursday, August 6th. The Goldman Sachs Group set a $53.00 target price on shares of Lineage in a report on Wednesday, August 12th. Finally, Wall Street Zen upgraded shares of Lineage from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $42.53.

Lineage Trading Down 0.2%

Shares of LINE opened at $33.22 on Tuesday. Lineage has a 1 year low of $31.33 and a 1 year high of $45.75. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 0.84. The stock has a 50 day simple moving average of $37.62 and a 200-day simple moving average of $39.50. The stock has a market cap of $7.56 billion, a PE ratio of -46.14 and a beta of 0.86.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, August 5th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.98. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%. Lineage’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the company earned $0.81 EPS. On average, sell-side analysts predict that Lineage will post 2.48 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Lineage during the 2nd quarter worth about $227,511,000. Bank of America Corp DE acquired a new stake in Lineage in the 2nd quarter valued at about $156,045,000. Bank of New York Mellon Corp bought a new position in shares of Lineage in the second quarter worth about $44,638,000. Canada Pension Plan Investment Board bought a new position in shares of Lineage in the second quarter worth about $41,271,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Lineage by 134.5% in the first quarter. Dimensional Fund Advisors LP now owns 876,901 shares of the company’s stock worth $28,721,000 after acquiring an additional 503,021 shares during the last quarter.

Lineage Company Profile

Lineage, Inc (NASDAQ:LINE) is a real estate investment trust that owns and operates temperature-controlled warehouses and related cold-chain infrastructure. The company provides storage, handling and logistics services for food and other perishable products, helping customers preserve product quality as goods move from producers and manufacturers to retailers and consumers.

Its services include refrigerated and frozen warehousing, transportation coordination, inventory management, food distribution and supply-chain technology.