Lineage (NASDAQ:LINE) Receives Sector Perform Rating from Scotiabank

Lineage (NASDAQ:LINE)‘s stock had its “sector perform” rating reiterated by equities researchers at Scotiabank in a research report issued on Thursday, Marketbeat Ratings reports. They currently have a $56.00 price target on the stock. Scotiabank’s price objective would suggest a potential upside of 5.75% from the company’s current price.

A number of other brokerages also recently issued reports on LINE. BNP Paribas assumed coverage on Lineage in a report on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 price target on the stock. Robert W. Baird decreased their price objective on Lineage from $76.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. JPMorgan Chase & Co. cut Lineage from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $78.00 to $75.00 in a report on Friday, December 20th. Mizuho cut their price objective on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Morgan Stanley dropped their price target on Lineage from $80.00 to $75.00 and set an “overweight” rating for the company in a research report on Tuesday, April 1st. Nine analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.63.

Lineage Stock Up 8.1 %

NASDAQ:LINE opened at $52.96 on Thursday. Lineage has a 1 year low of $46.63 and a 1 year high of $89.85. The business has a 50 day simple moving average of $57.49 and a 200-day simple moving average of $63.06. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Insider Activity

In other news, 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 owns 24,317 shares of the company’s stock, valued at approximately $1,471,178.50. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.40% of the company’s stock.

Institutional Trading of Lineage

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Stifel Financial Corp purchased a new stake in shares of Lineage during the 3rd quarter valued at $211,000. State Street Corp bought a new position in shares of Lineage during the third quarter valued at approximately $113,483,000. Nomura Asset Management Co. Ltd. bought a new position in Lineage during the 3rd quarter valued at $5,787,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Lineage during the 3rd quarter valued at $1,754,000. Finally, Barclays PLC purchased a new stake in shares of Lineage in the third quarter valued at $13,928,000.

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.