Citigroup Issues Pessimistic Forecast for Lineage (NASDAQ:LINE) Stock Price

Lineage (NASDAQ:LINE - Get Free Report) had its price target reduced by stock analysts at Citigroup from $64.00 to $49.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Citigroup's price objective indicates a potential upside of 12.26% from the stock's current price.

LINE has been the subject of a number of other reports. Scotiabank lowered their price target on Lineage from $56.00 to $50.00 and set a "sector perform" rating for the company in a research report on Thursday, May 15th. Morgan Stanley lowered their price target on Lineage from $80.00 to $75.00 and set an "overweight" rating for the company in a research report on Tuesday, April 1st. The Goldman Sachs Group decreased their target price on Lineage from $74.00 to $63.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Barclays started coverage on Lineage in a research report on Wednesday, April 9th. They set an "overweight" rating and a $59.00 target price for the company. Finally, Robert W. Baird decreased their target price on Lineage from $70.00 to $64.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $65.55.

Lineage Trading Down 3.9%

LINE traded down $1.79 during trading on Thursday, reaching $43.65. The company had a trading volume of 807,663 shares, compared to its average volume of 1,223,456. The stock has a market cap of $9.98 billion and a P/E ratio of -13.56. The business has a 50 day simple moving average of $48.52 and a 200-day simple moving average of $55.23. Lineage has a 52 week low of $41.88 and a 52 week high of $89.85. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Lineage (NASDAQ:LINE - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $1.34 billion. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. Lineage's quarterly revenue was down 2.7% on a year-over-year basis. On average, equities analysts anticipate that Lineage will post 2.34 EPS for the current fiscal year.

Insider Buying and Selling at Lineage

In other Lineage news, Chairman Kevin Patrick Marchetti purchased 11,500 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average price of $43.75 per share, for a total transaction of $503,125.00. Following the completion of the purchase, the chairman now owns 27,733 shares of the company's stock, valued at approximately $1,213,318.75. The trade was a 70.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sudarsan V. Thattai purchased 4,420 shares of the company's stock in a transaction dated Monday, May 5th. The shares were acquired at an average price of $45.23 per share, for a total transaction of $199,916.60. Following the purchase, the insider now directly owns 4,420 shares of the company's stock, valued at approximately $199,916.60. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 26,869 shares of company stock worth $1,194,980 over the last quarter. Insiders own 71.90% of the company's stock.

Institutional Investors Weigh In On Lineage

A number of large investors have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Lineage during the fourth quarter worth about $681,572,000. Vanguard Group Inc. grew its stake in shares of Lineage by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company's stock worth $562,003,000 after acquiring an additional 408,526 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Lineage by 75.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,364,697 shares of the company's stock worth $255,903,000 after acquiring an additional 1,880,587 shares during the last quarter. D1 Capital Partners L.P. grew its stake in shares of Lineage by 257.5% during the fourth quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company's stock worth $219,848,000 after acquiring an additional 2,703,598 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Lineage by 92.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company's stock worth $189,380,000 after acquiring an additional 1,550,478 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.