Lineage (NASDAQ:LINE) Stock Rating Cut to "Strong Sell" at Wall Street Zen

Lineage (NASDAQ:LINE - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "strong sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other research analysts also recently issued reports on LINE. JPMorgan Chase & Co. dropped their price objective on Lineage from $40.00 to $37.00 and set an "underweight" rating on the stock in a research note on Thursday, October 15th. Robert W. Baird decreased their target price on Lineage from $43.00 to $40.00 and set a "neutral" rating for the company in a research note on Wednesday. Citigroup lifted their target price on Lineage from $42.00 to $43.00 and gave the stock a "neutral" rating in a report on Thursday, August 13th. Royal Bank Of Canada boosted their price target on Lineage from $44.00 to $48.00 and gave the company an "outperform" rating in a research note on Monday, August 17th. Finally, Evercore set a $43.00 price target on Lineage in a research note on Friday, October 2nd. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $41.80.

Lineage Stock Performance

Shares of LINE opened at $35.31 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.70 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $8.04 billion, a P/E ratio of 88.28 and a beta of 0.79. The firm's fifty day simple moving average is $35.99 and its two-hundred day simple moving average is $38.73. Lineage has a 12 month low of $31.33 and a 12 month high of $45.75.

Insider Buying and Selling at Lineage

In related news, Chairman Kevin Marchetti acquired 25,000 shares of the company's stock in a transaction dated Friday, August 28th. The shares were purchased at an average price of $39.50 per share, for a total transaction 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 trade represents a 21.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 71.60% of the company's stock.

Institutional Trading of Lineage

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC grew its stake in Lineage by 15.5% in the third quarter. Empowered Funds LLC now owns 149,096 shares of the company's stock valued at $5,087,000 after acquiring an additional 20,023 shares during the period. Caxton Associates LLP acquired a new position in shares of Lineage during the third quarter worth approximately $209,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Lineage during the third quarter worth approximately $341,000. State Board of Administration of Florida Retirement System raised its position in shares of Lineage by 2.6% during the third quarter. State Board of Administration of Florida Retirement System now owns 22,128 shares of the company's stock worth $755,000 after purchasing an additional 554 shares during the period. Finally, Bleakley Financial Group LLC lifted its holdings in shares of Lineage by 6.4% in the 3rd 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 in the last quarter.

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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