Lineage (NASDAQ:LINE) Receives "Underperform" Rating from Bank of America

Key Points

• Bank of America has restated its "underperform" rating for Lineage (NASDAQ:LINE), with a target price cut from $47.00 to $42.00, indicating limited growth potential.
• Several analysts have recently reduced their target prices for Lineage, with reporting firms like Piper Sandler and Goldman Sachs adjusting their ratings and price targets significantly downward.
• Despite a recent earnings beat with $0.81 EPS, Lineage's stock is experiencing downward pressure, reflected in mixed ratings: four sell, nine hold, seven buy, and one strong buy from various investment analysts.

Lineage (NASDAQ:LINE - Get Free Report)'s stock had its "underperform" rating restated by investment analysts at Bank of America in a report released on Monday, Marketbeat Ratings reports. They presently have a $42.00 price target on the stock, down from their prior price target of $47.00. Bank of America's price target indicates a potential upside of 2.41% from the stock's previous close.

Other equities research analysts also recently issued research reports about the stock. UBS Group decreased their price target on shares of Lineage from $49.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. Evercore ISI reduced their target price on Lineage from $59.00 to $45.00 and set an "in-line" rating on the stock in a report on Friday. The Goldman Sachs Group reduced their price target on Lineage from $74.00 to $63.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. KeyCorp reissued a "sector weight" rating and issued a $84.00 price objective on shares of Lineage in a report on Tuesday, July 1st. Finally, Wells Fargo & Company lowered their price objective on shares of Lineage from $64.00 to $48.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $59.85.

Lineage Stock Down 1.5%

LINE traded down $0.63 during trading on Monday, hitting $41.01. The company had a trading volume of 261,361 shares, compared to its average volume of 1,017,871. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.96 and a quick ratio of 0.83. Lineage has a 1-year low of $40.49 and a 1-year high of $88.07. The business has a 50-day moving average of $43.60 and a 200-day moving average of $50.61. The company has a market cap of $9.37 billion and a PE ratio of -14.68.

Lineage (NASDAQ:LINE - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.06. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%. The company had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.33 billion. The company's revenue was up .9% on a year-over-year basis. As a group, analysts forecast that Lineage will post 2.34 earnings per share for the current year.

Institutional Trading of Lineage

Large investors have recently added to or reduced their stakes in the stock. Signaturefd LLC increased its stake in Lineage by 132.3% in the 2nd quarter. Signaturefd LLC now owns 648 shares of the company's stock valued at $28,000 after buying an additional 369 shares during the period. FIL Ltd purchased a new stake in Lineage in the 4th quarter worth approximately $29,000. Costello Asset Management INC purchased a new position in Lineage during the first quarter worth about $29,000. Allworth Financial LP boosted its holdings in Lineage by 426.4% in the second quarter. Allworth Financial LP now owns 758 shares of the company's stock valued at $33,000 after acquiring an additional 614 shares during the last quarter. Finally, Salomon & Ludwin LLC purchased a new stake in Lineage during the 1st quarter worth $34,000.

About Lineage

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.