Barclays Cuts Lineage (NASDAQ:LINE) Price Target to $52.00

Lineage (NASDAQ:LINE - Get Free Report) had its price target decreased by analysts at Barclays from $59.00 to $52.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's target price would indicate a potential upside of 22.35% from the stock's previous close.

Several other equities research analysts have also commented on LINE. BNP Paribas set a $42.00 price objective on shares of Lineage in a research note on Thursday, June 12th. Piper Sandler cut their target price on shares of Lineage from $75.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. The Goldman Sachs Group cut their target price on shares of Lineage from $74.00 to $63.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. KeyCorp reaffirmed a "sector weight" rating and set a $84.00 price target on shares of Lineage in a research note on Tuesday, July 1st. Finally, Scotiabank reduced their price target on shares of Lineage from $56.00 to $50.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 15th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $61.35.

Lineage Price Performance

NASDAQ LINE traded up $1.10 on Monday, hitting $42.50. 1,102,881 shares of the company's stock were exchanged, compared to its average volume of 1,202,854. The stock has a 50-day moving average of $44.35 and a 200-day moving average of $52.09. The stock has a market cap of $9.72 billion and a price-to-earnings ratio of -13.20. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.66. Lineage has a 52 week low of $40.49 and a 52 week high of $89.85.

Lineage (NASDAQ:LINE - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. Lineage had a negative net margin of 11.88% and a negative return on equity of 7.24%. The business had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.34 billion. The company's revenue for the quarter was down 2.7% compared to the same quarter last year. Analysts expect that Lineage will post 2.34 earnings per share for the current year.

Insider Activity

In other news, Chairman Adam Matthew Schwartz Forste purchased 10,949 shares of the stock in a transaction on Thursday, May 8th. The stock was bought at an average price of $44.93 per share, for a total transaction of $491,938.57. Following the acquisition, the chairman directly owned 35,266 shares of the company's stock, valued at approximately $1,584,501.38. The trade was a 45.03% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sudarsan V. Thattai purchased 4,420 shares of the stock in a transaction on Monday, May 5th. The shares were purchased at an average price of $45.23 per share, with a total value of $199,916.60. Following the acquisition, the insider directly owned 4,420 shares in the company, valued at $199,916.60. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 26,869 shares of company stock valued at $1,194,980. Company insiders own 71.90% of the company's stock.

Institutional Trading of Lineage

A number of large investors have recently bought and sold shares of LINE. Signaturefd LLC lifted its stake 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 acquiring an additional 369 shares during the period. FIL Ltd acquired a new stake in shares of Lineage in the 4th quarter worth $29,000. Costello Asset Management INC acquired a new stake in shares of Lineage in the 1st quarter worth $29,000. Salomon & Ludwin LLC acquired a new stake in shares of Lineage in the 1st quarter worth $34,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Lineage by 170.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 730 shares of the company's stock worth $43,000 after acquiring an additional 460 shares during the period.

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.