Lineage (NASDAQ:LINE) Lowered to "Underweight" Rating by JPMorgan Chase & Co.

Lineage (NASDAQ:LINE - Get Free Report) was downgraded by JPMorgan Chase & Co. from a "neutral" rating to an "underweight" rating in a research report issued on Monday, MarketBeat.com reports. They currently have a $50.00 price objective on the stock, down from their prior price objective of $55.00. JPMorgan Chase & Co.'s price target points to a potential upside of 8.01% from the stock's previous close.

Other research analysts also recently issued research reports about the company. UBS Group cut their price target on Lineage from $62.00 to $49.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. BNP Paribas Exane lowered Lineage from a "neutral" rating to an "underperform" rating and set a $42.00 target price for the company. in a research note on Thursday, June 12th. The Goldman Sachs Group cut their target price on shares of Lineage from $74.00 to $63.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Morgan Stanley downgraded shares of Lineage from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $75.00 to $50.00 in a research report on Monday. Finally, Citigroup lowered their target price on Lineage from $64.00 to $49.00 and set a "neutral" rating for the company in a research note on Thursday, June 12th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $62.10.

Lineage Trading Up 1.6%

NASDAQ LINE traded up $0.72 on Monday, hitting $46.29. The company's stock had a trading volume of 400,433 shares, compared to its average volume of 986,837. The firm has a market cap of $10.58 billion and a PE ratio of -14.38. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. Lineage has a 1-year low of $41.88 and a 1-year high of $89.85. The company's 50-day moving average is $47.49 and its 200 day moving average is $54.33.

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

Insider Buying and Selling

In related news, Chairman Kevin Patrick Marchetti acquired 11,500 shares of the stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average cost of $43.75 per share, with a total value of $503,125.00. Following the transaction, the chairman now directly owns 27,733 shares in the company, valued at approximately $1,213,318.75. This represents a 70.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sudarsan V. Thattai bought 4,420 shares of Lineage stock in a transaction that occurred on Monday, May 5th. The stock was purchased at an average cost of $45.23 per share, with a total value of $199,916.60. Following the completion of the acquisition, the insider now directly owns 4,420 shares in the company, valued at $199,916.60. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 26,869 shares of company stock worth $1,194,980. 71.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Lineage

Large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its position in shares of Lineage by 7.3% during the 4th quarter. Rhumbline Advisers now owns 65,495 shares of the company's stock valued at $3,836,000 after purchasing an additional 4,462 shares during the period. CIBC Asset Management Inc bought a new stake in Lineage during the fourth quarter valued at about $447,000. New York State Common Retirement Fund lifted its position in shares of Lineage by 58.3% in the fourth quarter. New York State Common Retirement Fund now owns 32,600 shares of the company's stock valued at $1,909,000 after acquiring an additional 12,000 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Lineage by 149.7% in the fourth quarter. Bank of New York Mellon Corp now owns 266,784 shares of the company's stock worth $15,626,000 after acquiring an additional 159,927 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Lineage by 197.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 522,798 shares of the company's stock worth $30,620,000 after acquiring an additional 346,916 shares during the period.

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.