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

Key Points

• UBS lowered Lineage’s price target from $45 to $36 while maintaining a “neutral” rating, implying 8.37% upside from the prior close. The analyst consensus remains “Hold,” with an average target of $42.53.
• Lineage opened at $33.22, near its 52-week low of $31.33, after reporting quarterly revenue of $1.36 billion and adjusted earnings of $0.76 per share, exceeding analyst expectations.
• Company insiders increased their holdings through significant purchases, including 20,000 shares bought by the CFO and 25,000 shares purchased by the chairman; insiders collectively own 71.6% of the stock.

Lineage (NASDAQ:LINE - Get Free Report) had its price objective lowered by equities researchers at UBS Group from $45.00 to $36.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's price objective would suggest a potential upside of 8.37% from the company's previous close.

A number of other brokerages have also commented on LINE. Wall Street Zen raised Lineage from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Piper Sandler reduced their target price on Lineage from $44.00 to $36.00 and set a "neutral" rating for the company in a report on Monday, October 12th. The Goldman Sachs Group set a $53.00 target price on Lineage in a report on Wednesday, August 12th. Weiss Ratings raised Lineage from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada upped their target price on Lineage from $44.00 to $48.00 and gave the stock an "outperform" rating in a research report on Monday, August 17th. Five investment 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. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $42.53.

Lineage Trading Down 0.2%

Lineage stock opened at $33.22 on Tuesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.78 and a quick ratio of 0.70. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of -46.14 and a beta of 0.86. Lineage has a one year low of $31.33 and a one year high of $45.75. The company's fifty day moving average price is $37.62 and its two-hundred day moving average price is $39.50.

Lineage (NASDAQ:LINE - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.98. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the company earned $0.81 earnings per share. The business's revenue was up .8% compared to the same quarter last year. On average, analysts forecast that Lineage will post 2.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Lineage

In related news, CFO Robb LeMasters acquired 20,000 shares of the stock in a transaction dated Friday, August 7th. The shares were acquired at an average price of $41.33 per share, for a total transaction of $826,600.00. Following the completion of the purchase, the chief financial officer owned 49,500 shares in the company, valued at approximately $2,045,835. The trade was a 67.80% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Kevin Marchetti bought 25,000 shares of the company's stock in a transaction that occurred on Friday, August 28th. The shares were bought at an average cost of $39.50 per share, for a total transaction of $987,500.00. Following the transaction, the chairman directly owned 138,690 shares of the company's stock, valued at $5,478,255. This trade represents a 21.99% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 71.60% of the company's stock.

Institutional Trading of Lineage

Hedge funds have recently bought and sold shares of the stock. Paralel Advisors LLC bought a new stake in Lineage in the 2nd quarter valued at $26,000. Global Retirement Partners LLC bought a new position in shares of Lineage during the 2nd quarter worth about $48,000. Parallel Advisors LLC lifted its holdings in shares of Lineage by 172.7% during the 1st quarter. Parallel Advisors LLC now owns 1,650 shares of the company's stock worth $54,000 after acquiring an additional 1,045 shares during the period. Wealth Enhancement Trust Services Inc. lifted its holdings in shares of Lineage by 88.4% during the 3rd quarter. Wealth Enhancement Trust Services Inc. now owns 1,948 shares of the company's stock worth $66,000 after acquiring an additional 914 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Lineage by 407.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,041 shares of the company's stock valued at $71,000 after acquiring an additional 1,639 shares in the last quarter.

About Lineage

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.

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