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

Lineage (NASDAQ:LINE) had its price objective decreased by analysts at Evercore ISI from $44.00 to $38.00 in a report issued on Monday,Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s price target would suggest a potential upside of 12.39% from the stock’s current price.

A number of other equities analysts have also recently issued reports on LINE. JPMorgan Chase & Co. lowered their target price on Lineage from $44.00 to $43.00 and set an “underweight” rating for the company in a report on Tuesday, September 23rd. Truist Financial cut their price target on shares of Lineage from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, August 22nd. Royal Bank Of Canada reduced their price objective on shares of Lineage from $64.00 to $51.00 and set an “outperform” rating for the company in a research report on Monday, August 18th. Piper Sandler reaffirmed a “neutral” rating and issued a $41.00 price objective (down from $55.00) on shares of Lineage in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lineage in a research report on Friday, October 31st. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $47.00.

Lineage Stock Performance

Lineage stock traded down $0.81 during trading hours on Monday, hitting $33.81. The company had a trading volume of 169,070 shares, compared to its average volume of 1,062,723. The firm has a market cap of $7.73 billion, a PE ratio of -42.56 and a beta of -0.20. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.99 and a quick ratio of 0.86. Lineage has a one year low of $33.30 and a one year high of $68.81. The firm has a 50-day moving average of $40.00 and a 200 day moving average of $42.70.

Lineage (NASDAQ:LINE) last released its quarterly earnings results 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. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.30%.The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 EPS. On average, sell-side analysts expect that Lineage will post 2.34 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Kevin Patrick Marchetti purchased 12,345 shares of Lineage stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average price of $40.44 per share, for a total transaction of $499,231.80. Following the completion of the transaction, the chairman directly owned 74,668 shares of the company’s stock, valued at $3,019,573.92. This represents a 19.81% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 71.90% of the company’s stock.

Institutional Trading of Lineage

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its holdings in Lineage by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 269,663 shares of the company’s stock worth $15,810,000 after acquiring an additional 2,879 shares in the last quarter. M&T Bank Corp raised its holdings in Lineage by 174.5% in the first quarter. M&T Bank Corp now owns 13,690 shares of the company’s stock worth $803,000 after buying an additional 8,703 shares during the last quarter. Ballentine Partners LLC bought a new position in shares of Lineage in the first quarter worth approximately $218,000. CWM LLC increased its holdings in shares of Lineage by 3,508.2% in the 1st quarter. CWM LLC now owns 2,634 shares of the company’s stock worth $154,000 after purchasing an additional 2,561 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Lineage in the first quarter worth $269,000.

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.