Lineage (NASDAQ:LINE) Price Target Cut to $43.00 by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo & Company has reduced the price target for Lineage (NASDAQ:LINE) from $48.00 to $43.00, maintaining an "equal weight" rating for the stock.
• Several analysts including Scotiabank and Barclays have similarly lowered their target prices for Lineage, which indicates a shift in market perception as seven analysts rate the stock as a Buy while eight deem it a Hold.
• Chairman Kevin Patrick Marchetti recently increased his stake in Lineage by purchasing 12,345 shares at an average cost of $40.44 per share.

Lineage (NASDAQ:LINE - Get Free Report) had its target price decreased by stock analysts at Wells Fargo & Company from $48.00 to $43.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 4.84% from the stock's previous close.

Other equities analysts have also recently issued reports about the company. Scotiabank dropped their price objective on Lineage from $56.00 to $50.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 15th. Barclays cut their target price 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. Robert W. Baird reduced their target price on Lineage from $64.00 to $51.00 and set an "outperform" rating for the company in a report on Wednesday, August 13th. Evercore ISI reduced their target price on Lineage from $59.00 to $45.00 and set an "in-line" rating for the company in a report on Friday, August 8th. Finally, KeyCorp reissued a "sector weight" rating and set a $84.00 price objective on shares of Lineage in a report on Tuesday, July 1st. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Lineage has an average rating of "Hold" and an average target price of $53.26.

Lineage Stock Down 1.8%

Shares of NASDAQ LINE opened at $41.02 on Wednesday. Lineage has a 12 month low of $38.83 and a 12 month high of $86.03. The stock has a 50-day moving average price of $42.63 and a two-hundred day moving average price of $49.10. 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 company has a market cap of $9.38 billion and a price-to-earnings ratio of -14.70.

Lineage (NASDAQ:LINE - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.33 billion. The firm's quarterly revenue was up .9% on a year-over-year basis. As a group, analysts forecast that Lineage will post 2.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Lineage

In other news, Chairman Kevin Patrick Marchetti purchased 12,345 shares of Lineage stock in a transaction that occurred 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 purchase, the chairman directly owned 74,668 shares in the company, valued at approximately $3,019,573.92. This trade represents a 19.81% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sudarsan V. Thattai bought 3,563 shares of the business's stock in a transaction dated Friday, August 8th. The stock was bought at an average cost of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the purchase, the insider owned 7,983 shares of the company's stock, valued at approximately $338,878.35. The trade was a 80.61% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 39,448 shares of company stock worth $1,645,752. 71.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Nissay Asset Management Corp Japan ADV lifted its holdings in Lineage by 4.0% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 8,910 shares of the company's stock valued at $526,000 after acquiring an additional 340 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Lineage by 172.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company's stock valued at $25,000 after purchasing an additional 362 shares during the last quarter. 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 valued at $28,000 after purchasing an additional 369 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Lineage by 1.2% during the 1st quarter. State of Alaska Department of Revenue now owns 30,095 shares of the company's stock worth $1,764,000 after acquiring an additional 371 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Lineage by 170.4% during 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 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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