Lineage (NASDAQ:LINE) Price Target Cut to $46.00 by Analysts at Morgan Stanley

Key Points

• Morgan Stanley has cut the price target for Lineage (NASDAQ:LINE) from $50.00 to $46.00, advising an "equal weight" rating, indicating a potential upside of 14.25% from the current price.
• Multiple analysts have also revised their price targets, with Wells Fargo lowering theirs from $48.00 to $43.00, while Goldman Sachs and UBS adjusted theirs down as well, reflecting a cautious sentiment in the market.
• Insider purchases have been notable, with Chairman Kevin Patrick Marchetti increasing his stake significantly by buying 12,345 shares at an average price of $40.44, indicating confidence in the company's prospects.

Lineage (NASDAQ:LINE - Get Free Report) had its price target dropped by investment analysts at Morgan Stanley from $50.00 to $46.00 in a report released on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's target price would suggest a potential upside of 14.25% from the company's current price.

LINE has been the topic of a number of other reports. Wells Fargo & Company decreased their target price on shares of Lineage from $48.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 27th. The Goldman Sachs Group reduced their price target on shares of Lineage from $57.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. UBS Group reduced their price target on shares of Lineage from $49.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 23rd. BNP Paribas Exane lowered shares of Lineage from a "neutral" rating to an "underperform" rating and set a $42.00 price target on the stock. in a research report on Thursday, June 12th. Finally, Scotiabank reduced their price target on shares of Lineage from $49.00 to $43.00 and set a "sector perform" rating on the stock in a research report on Friday, September 5th. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $50.50.

Lineage Trading Down 0.3%

NASDAQ:LINE traded down $0.12 during midday trading on Monday, hitting $40.26. The stock had a trading volume of 417,814 shares, compared to its average volume of 1,052,236. Lineage has a one year low of $38.83 and a one year high of $81.81. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of -14.47 and a beta of -0.22. The stock has a 50-day moving average of $41.72 and a 200 day moving average of $47.04. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 0.72.

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. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%.The business's revenue for the quarter was up .9% compared to the same quarter last year. As a group, sell-side analysts forecast that Lineage will post 2.34 EPS for the current year.

Insider Buying and Selling

In other news, Chairman Kevin Patrick Marchetti bought 12,345 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average price of $40.44 per share, for a total transaction of $499,231.80. Following the completion of the transaction, the chairman owned 74,668 shares in the company, valued at $3,019,573.92. The trade was a 19.81% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sudarsan V. Thattai purchased 3,563 shares of the firm's stock in a transaction on Friday, August 8th. The stock was bought at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the acquisition, the insider owned 7,983 shares in the company, valued at $338,878.35. The trade was a 80.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 39,448 shares of company stock worth $1,645,752. 71.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lineage

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Costello Asset Management INC acquired a new position in Lineage during the 1st quarter valued at about $29,000. EverSource Wealth Advisors LLC raised its holdings in shares of Lineage by 172.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company's stock worth $25,000 after purchasing an additional 362 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of Lineage during the first quarter valued at approximately $34,000. Signaturefd LLC grew its position in Lineage by 132.3% during the second quarter. Signaturefd LLC now owns 648 shares of the company's stock valued at $28,000 after purchasing an additional 369 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Lineage by 170.4% during the first quarter. PNC Financial Services Group Inc. now owns 730 shares of the company's stock valued at $43,000 after purchasing an additional 460 shares in 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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