Lineage (NASDAQ:LINE) Price Target Lowered to $51.00 at Barclays

Key Points

• Barclays has lowered its price target for Lineage (NASDAQ:LINE) from $52.00 to $51.00, while maintaining an "overweight" rating, suggesting a potential 22.04% upside from the current stock price.
• Other brokerages, including Morgan Stanley and Royal Bank of Canada, have also reduced their price targets for Lineage, indicating a mixed outlook among analysts with several holding "Buy" and "Hold" ratings.
• Insider buying activity has been noted, with Chairman Kevin Patrick Marchetti increasing his stake by 19.81%, signalling confidence in the company's future performance.

Lineage (NASDAQ:LINE - Get Free Report) had its target price lowered by investment analysts at Barclays from $52.00 to $51.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's price target would suggest a potential upside of 22.04% from the stock's current price.

A number of other brokerages have also recently weighed in on LINE. Morgan Stanley cut shares of Lineage from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $75.00 to $50.00 in a research report on Monday, June 23rd. Royal Bank Of Canada reduced their price target on shares of Lineage from $64.00 to $51.00 and set an "outperform" rating on the stock in a research report on Monday, August 18th. 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. 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. Finally, Citigroup reduced their price target on shares of Lineage from $64.00 to $49.00 and set a "neutral" rating on the stock in a research report on Thursday, June 12th. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, Lineage presently has an average rating of "Hold" and an average target price of $52.74.

Lineage Price Performance

LINE opened at $41.79 on Monday. Lineage has a one year low of $38.83 and a one year high of $84.86. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.96 and a quick ratio of 0.83. The company's 50 day simple moving average is $41.87 and its 200-day simple moving average is $47.71. The stock has a market capitalization of $9.56 billion, a P/E ratio of -14.98 and a beta of -0.22.

Lineage (NASDAQ:LINE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.06. Lineage had a negative net margin of 10.57% and a negative return on equity of 5.76%. The firm had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.33 billion. The firm's revenue was up .9% on a year-over-year basis. Sell-side analysts anticipate 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 acquired 12,345 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $40.44 per share, for a total transaction of $499,231.80. Following the completion of the transaction, the chairman directly owned 74,668 shares in the company, valued at $3,019,573.92. This represents a 19.81% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sudarsan V. Thattai acquired 3,563 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were purchased at an average price of $42.45 per share, with a total value of $151,249.35. Following the completion of the transaction, the insider owned 7,983 shares of the company's stock, valued at $338,878.35. This trade represents a 80.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 39,448 shares of company stock valued at $1,645,752. 71.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LINE. EverSource Wealth Advisors LLC lifted its stake in shares of Lineage by 172.4% in the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company's stock valued at $25,000 after buying an additional 362 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Lineage by 132.3% in the second quarter. Signaturefd LLC now owns 648 shares of the company's stock valued at $28,000 after buying an additional 369 shares in the last quarter. Costello Asset Management INC bought a new position in shares of Lineage in the first quarter valued at $29,000. Allworth Financial LP lifted its stake in shares of Lineage by 426.4% in the second quarter. Allworth Financial LP now owns 758 shares of the company's stock valued at $33,000 after buying an additional 614 shares in the last quarter. Finally, Salomon & Ludwin LLC bought a new position in shares of Lineage in the first quarter valued at $34,000.

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.

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