Lineage (NASDAQ:LINE) Given New $51.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird has lowered its price target for Lineage (NASDAQ:LINE) from $64.00 to $51.00, while maintaining an "outperform" rating, indicating a potential upside of 25.65% from the current price.
• Various analysts have also reduced their price targets for Lineage, with the consensus target now at $58.55, but the stock has received a mix of ratings including four sell ratings and seven buy ratings.
• Lineage recently reported earnings of $0.81 per share, exceeding consensus estimates, with a revenue of $1.35 billion for the quarter, marking a 0.9% year-over-year increase.

Lineage (NASDAQ:LINE - Get Free Report) had its target price lowered by research analysts at Robert W. Baird from $64.00 to $51.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's price target points to a potential upside of 25.65% from the stock's current price.

A number of other equities analysts have also weighed in on LINE. Barclays dropped their price target on shares of Lineage from $59.00 to $52.00 and set an "overweight" rating for the company in a research report on Monday, July 21st. Piper Sandler lowered their target price on shares of Lineage from $60.00 to $55.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Scotiabank lowered their target price on shares of Lineage from $56.00 to $50.00 and set a "sector perform" rating on the stock in a report on Thursday, May 15th. Morgan Stanley cut shares of Lineage from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $75.00 to $50.00 in a research report on Monday, June 23rd. Finally, Wells Fargo & Company cut their price objective on shares of Lineage from $64.00 to $48.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $58.55.

Lineage Stock Performance

Shares of NASDAQ LINE opened at $40.59 on Wednesday. The firm has a 50 day moving average of $43.49 and a 200 day moving average of $50.40. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $9.28 billion and a price-to-earnings ratio of -14.55. Lineage has a 12-month low of $40.06 and a 12-month high of $88.00.

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

Insider Activity

In other Lineage news, insider Sudarsan V. Thattai bought 3,563 shares of the company's stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $42.45 per share, for a total transaction of $151,249.35. Following the acquisition, the insider directly owned 7,983 shares in the company, valued at approximately $338,878.35. The trade was a 80.61% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Kevin Patrick Marchetti purchased 23,540 shares of the stock in a transaction dated Friday, August 8th. The stock was purchased at an average price of $42.28 per share, for a total transaction of $995,271.20. Following the completion of the acquisition, the chairman directly owned 62,323 shares in the company, valued at approximately $2,635,016.44. This represents a 60.70% increase in their position. The disclosure for this purchase can be found here. 71.90% of the stock is owned by corporate insiders.

Institutional Trading of Lineage

A number of institutional investors have recently modified their holdings of LINE. Signaturefd LLC raised its position in shares of Lineage by 132.3% in the 2nd quarter. Signaturefd LLC now owns 648 shares of the company's stock valued at $28,000 after purchasing an additional 369 shares during the last quarter. Costello Asset Management INC purchased a new position in shares of Lineage in the 1st quarter valued at approximately $29,000. Allworth Financial LP raised its position in shares of Lineage by 426.4% in the 2nd quarter. Allworth Financial LP now owns 758 shares of the company's stock valued at $33,000 after purchasing an additional 614 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in shares of Lineage in the 1st quarter valued at approximately $34,000. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Lineage by 29,300.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 882 shares of the company's stock valued at $38,000 after purchasing an additional 879 shares during 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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