Evercore ISI Lowers Lineage (NASDAQ:LINE) Price Target to $43.00

Key Points

• Evercore ISI has reduced its price target for Lineage (NASDAQ:LINE) from $50.00 to $43.00, indicating a potential upside of 5.94% from the stock's last close.
• Several research analysts have varying ratings on Lineage, with a consensus rating of "Hold" and a consensus price target of $52.79.
• Insider purchases have been significant, with Sudarsan V. Thattai and Chairman Kevin Patrick Marchetti both increasing their ownership in the company recently.

Lineage (NASDAQ:LINE - Get Free Report) had its target price dropped by investment analysts at Evercore ISI from $50.00 to $43.00 in a research report issued on Monday,Benzinga reports. The firm currently has an "in-line" rating on the stock. Evercore ISI's price objective indicates a potential upside of 5.94% from the stock's previous close.

A number of other equities research analysts have also issued reports on the company. KeyCorp reiterated a "sector weight" rating and issued a $84.00 price target on shares of Lineage in a research note on Tuesday, July 1st. Wells Fargo & Company dropped their price target on Lineage from $48.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 27th. Robert W. Baird cut their price target on Lineage from $64.00 to $51.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 13th. Bank of America restated an "underperform" rating and issued a $42.00 price objective (down previously from $47.00) on shares of Lineage in a report on Monday, August 11th. Finally, The Goldman Sachs Group lowered their price objective on shares of Lineage from $57.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Lineage currently has a consensus rating of "Hold" and a consensus price target of $52.79.

Lineage Stock Performance

Shares of LINE opened at $40.59 on Monday. The firm's fifty day simple moving average is $42.06 and its two-hundred day simple moving average is $48.21. Lineage has a 12 month low of $38.83 and a 12 month high of $84.86. The stock has a market capitalization of $9.29 billion, a P/E ratio of -14.55 and a beta of -0.22. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72.

Lineage (NASDAQ:LINE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 earnings per share 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 analyst estimates of $1.33 billion. The business's revenue for the quarter was up .9% on a year-over-year basis. As a group, analysts predict that Lineage will post 2.34 EPS for the current year.

Insider Buying and Selling at Lineage

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

Institutional Investors Weigh In On Lineage

Several large investors have recently modified their holdings of LINE. EverSource Wealth Advisors LLC grew its holdings in shares of Lineage by 172.4% in the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company's stock valued at $25,000 after acquiring an additional 362 shares in the last quarter. Signaturefd LLC grew its position in shares of Lineage by 132.3% in the 2nd quarter. Signaturefd LLC now owns 648 shares of the company's stock worth $28,000 after buying an additional 369 shares during the last quarter. Costello Asset Management INC bought a new stake in shares of Lineage during the first quarter valued at approximately $29,000. Allworth Financial LP grew its holdings in shares of Lineage by 426.4% during the second quarter. Allworth Financial LP now owns 758 shares of the company's stock valued at $33,000 after buying an additional 614 shares during the last quarter. Finally, Salomon & Ludwin LLC purchased a new stake in shares of Lineage during the 1st quarter valued at about $34,000.

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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