Lineage (NASDAQ:LINE) Price Target Cut to $37.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan cut Lineage’s price target from $40 to $37 and maintained an “underweight” rating, implying 7.74% upside from the stock’s $34.34 price.
• Analyst sentiment is mixed: Lineage has five Buy, nine Hold and three Sell ratings, with a consensus target price of $43.13 and an overall “Hold” rating.
• Lineage reported quarterly EPS of $0.76, well above the $0.22 loss analysts expected, while revenue reached $1.36 billion. Company insiders also purchased shares, with insiders owning 71.6% of the stock.

Lineage (NASDAQ:LINE - Get Free Report) had its price target cut by investment analysts at JPMorgan Chase & Co. from $40.00 to $37.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 7.74% from the company's current price.

A number of other equities analysts also recently weighed in on the stock. UBS Group boosted their target price on shares of Lineage from $35.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, July 17th. The Goldman Sachs Group set a $53.00 price objective on shares of Lineage in a research note on Wednesday, August 12th. Royal Bank Of Canada upped their target price on shares of Lineage from $44.00 to $48.00 and gave the company an "outperform" rating in a report on Monday, August 17th. Robert W. Baird set a $43.00 target price on shares of Lineage in a research note on Thursday, August 6th. Finally, Scotiabank reduced their price target on Lineage from $44.00 to $39.00 and set a "hold" rating for the company in a report on Friday, October 2nd. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Lineage has an average rating of "Hold" and a consensus target price of $43.13.

Lineage Stock Up 1.7%

NASDAQ LINE traded up $0.56 during trading hours on Thursday, hitting $34.34. 218,441 shares of the company traded hands, compared to its average volume of 1,108,931. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.78. The business's 50-day moving average is $38.09 and its 200-day moving average is $39.47. The stock has a market capitalization of $7.82 billion, a price-to-earnings ratio of -47.70 and a beta of 0.86. Lineage has a twelve month low of $31.33 and a twelve month high of $45.75.

Lineage (NASDAQ:LINE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.98. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%. The business's quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 EPS. Sell-side analysts anticipate that Lineage will post 2.49 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman Kevin Marchetti purchased 25,000 shares of the company's stock in a transaction that occurred on Friday, August 28th. The stock was acquired at an average cost of $39.50 per share, with a total value of $987,500.00. Following the acquisition, the chairman owned 138,690 shares in the company, valued at approximately $5,478,255. This trade represents a 21.99% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robb A. Lemasters purchased 20,000 shares of Lineage stock in a transaction that occurred on Friday, August 7th. The stock was purchased 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 directly owned 49,500 shares in the company, valued at $2,045,835. This trade represents a 67.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 71.60% of the stock is currently owned by company insiders.

Institutional Trading of Lineage

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Enhancement Trust Services Inc. increased its holdings in shares of Lineage by 88.4% during the third quarter. Wealth Enhancement Trust Services Inc. now owns 1,948 shares of the company's stock valued at $66,000 after acquiring an additional 914 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Lineage in the 2nd quarter valued at $232,000. Integrated Wealth Concepts LLC boosted its holdings in Lineage by 96.5% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 15,039 shares of the company's stock worth $650,000 after acquiring an additional 7,386 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Lineage by 37,773.3% in the second quarter. NewEdge Advisors LLC now owns 5,681 shares of the company's stock valued at $246,000 after purchasing an additional 5,666 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in shares of Lineage by 180.5% during the second quarter. IFP Advisors Inc now owns 2,794 shares of the company's stock valued at $121,000 after purchasing an additional 1,798 shares in the last quarter.

About Lineage

Lineage, Inc is a global temperature-controlled industrial real estate and logistics company. It owns, operates and develops cold-storage facilities that help preserve and move perishable food products, including meat, seafood, dairy, fruits, vegetables and prepared foods.

The company provides a range of supply-chain services in addition to refrigerated and frozen warehousing. These services include transportation, distribution, port and rail logistics, food processing support, inventory management and other technology-enabled solutions designed to improve the efficiency and reliability of the food supply chain.

Lineage serves customers across North America, Europe and the Asia-Pacific region, with facilities located near major transportation hubs, ports and population centers.

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