Evercore ISI Boosts Lineage (NASDAQ:LINE) Price Target to $45.00

Key Points

• Evercore ISI raised the price target for Lineage (NASDAQ:LINE) from $43.00 to $45.00, suggesting a potential upside of 6.79% from the current price.
• Lineage's consensus rating remains at a "Hold" with a consensus target price of $52.84, while the company has reported a revenue increase of 0.9% compared to the same quarter last year.
• Insider transactions indicate strong confidence, with purchases by Sudarsan V. Thattai and Chairman Kevin Patrick Marchetti, contributing to a total of over 39,000 shares acquired in the last three months.

Lineage (NASDAQ:LINE - Get Free Report) had its target price hoisted by investment analysts at Evercore ISI from $43.00 to $45.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "in-line" rating on the stock. Evercore ISI's price target would indicate a potential upside of 6.79% from the stock's current price.

Other analysts have also issued reports about the stock. UBS Group reduced their price objective on shares of Lineage from $49.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 23rd. KeyCorp reiterated a "sector weight" rating and issued a $84.00 price objective on shares of Lineage in a research report on Tuesday, July 1st. The Goldman Sachs Group lowered their price target on shares of Lineage from $57.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Truist Financial reduced their target price on shares of Lineage from $60.00 to $53.00 and set a "buy" rating on the stock in a research report on Friday, August 22nd. Finally, Scotiabank decreased their target price on shares of Lineage from $49.00 to $43.00 and set a "sector perform" rating for the company in a research report on Friday, September 5th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Lineage has a consensus rating of "Hold" and a consensus target price of $52.84.

Lineage Price Performance

Shares of LINE traded up $0.35 during midday trading on Monday, hitting $42.14. The company's stock had a trading volume of 77,390 shares, compared to its average volume of 1,028,958. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 0.72. Lineage has a one year low of $38.83 and a one year high of $84.86. The stock has a market capitalization of $9.64 billion, a price-to-earnings ratio of -15.10 and a beta of -0.22. The company's fifty day simple moving average is $41.87 and its two-hundred day simple moving average is $47.71.

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

Insider Transactions at Lineage

In other news, insider Sudarsan V. Thattai acquired 3,563 shares of Lineage stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the transaction, the insider owned 7,983 shares in the company, valued at $338,878.35. The trade was a 80.61% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Kevin Patrick Marchetti purchased 12,345 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average cost of $40.44 per share, with a total value of $499,231.80. Following the completion of the purchase, the chairman directly owned 74,668 shares in the company, valued at $3,019,573.92. The trade was a 19.81% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 39,448 shares of company stock valued at $1,645,752. 71.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lineage

A number of large investors have recently made changes to their positions in the stock. American Century Companies Inc. grew its holdings in shares of Lineage by 1,396.7% during the first quarter. American Century Companies Inc. now owns 230,847 shares of the company's stock worth $13,535,000 after purchasing an additional 215,423 shares during the last quarter. XTX Topco Ltd raised its stake in Lineage by 419.2% during the first quarter. XTX Topco Ltd now owns 30,733 shares of the company's stock worth $1,802,000 after acquiring an additional 24,814 shares during the period. Lunate Capital Ltd bought a new position in shares of Lineage in the first quarter valued at approximately $35,178,000. GAMMA Investing LLC lifted its position in shares of Lineage by 3,141.4% in the 1st quarter. GAMMA Investing LLC now owns 14,716 shares of the company's stock valued at $863,000 after acquiring an additional 14,262 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Lineage by 8.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 566,040 shares of the company's stock valued at $33,187,000 after purchasing an additional 43,242 shares in the last quarter.

Lineage Company Profile

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.

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