Lineage (NASDAQ:LINE) Stock Price Expected to Rise, Piper Sandler Analyst Says

Key Points

• Piper Sandler raised its Lineage price target from $36 to $37, while maintaining a neutral rating; the new target implies about 5.9% upside from the current share price.
• Analyst sentiment is mixed but averages to Hold: five analysts rate the stock Buy, eight Hold, and three Sell, with an average target of $41.80.
• Lineage shares opened at $34.93 and were down 1.3%; the company’s chairman also recently bought 25,000 shares at $39.50 apiece.

Lineage (NASDAQ:LINE - Get Free Report) had its target price increased by equities researchers at Piper Sandler from $36.00 to $37.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Piper Sandler's target price indicates a potential upside of 5.93% from the company's current price.

A number of other equities research analysts also recently weighed in on LINE. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Lineage in a research report on Tuesday, November 3rd. Robert W. Baird cut their target price on shares of Lineage from $43.00 to $40.00 and set a "neutral" rating on the stock in a report on Wednesday. Evercore set a $43.00 target price on shares of Lineage in a report on Friday, October 2nd. Mizuho upgraded Lineage from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $40.00 to $47.00 in a research note on Tuesday, July 28th. Finally, Royal Bank Of Canada upped their target price on Lineage from $44.00 to $48.00 and gave the company an "outperform" rating in a report on Monday, August 17th. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $41.80.

Lineage Stock Down 1.3%

LINE stock opened at $34.93 on Friday. The firm has a market cap of $7.95 billion, a price-to-earnings ratio of 87.32 and a beta of 0.79. Lineage has a 1-year low of $31.33 and a 1-year high of $45.75. The firm has a fifty day moving average price of $36.05 and a two-hundred day moving average price of $38.74. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.05 and a quick ratio of 0.70.

Insider Activity

In related news, Chairman Kevin Marchetti purchased 25,000 shares of the company's stock in a transaction on Friday, August 28th. The shares were bought at an average price of $39.50 per share, with a total value 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 represents a 21.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 71.60% of the company's stock.

Hedge Funds Weigh In On Lineage

A number of hedge funds have recently modified their holdings of LINE. Bleakley Financial Group LLC raised its position in shares of Lineage by 6.4% during the third quarter. Bleakley Financial Group LLC now owns 18,966 shares of the company's stock worth $647,000 after purchasing an additional 1,139 shares during the period. Whittier Trust Co. acquired a new position in shares of Lineage in the 3rd quarter valued at $479,000. Private Wealth Asset Management LLC purchased a new position in Lineage in the 3rd quarter worth about $198,000. Focus Advisor Solutions LLC increased its stake in Lineage by 92.9% in the 3rd quarter. Focus Advisor Solutions LLC now owns 24,311 shares of the company's stock worth $830,000 after purchasing an additional 11,708 shares in the last quarter. Finally, Cibc World Market Inc. raised its holdings in Lineage by 161.3% during the 3rd quarter. Cibc World Market Inc. now owns 43,649 shares of the company's stock worth $1,489,000 after buying an additional 26,946 shares during the period.

Lineage Company Profile

Lineage, Inc. is a global temperature-controlled warehousing and logistics company. It operates refrigerated and frozen storage facilities that help food producers, retailers, and other customers manage products that require controlled temperatures. Its services include cold storage, food processing and handling, blast freezing, transportation, and other supply-chain solutions. By connecting warehouses with transportation and distribution networks, Lineage supports the movement of perishable goods from producers to consumers.

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