Lineage (NASDAQ:LINE) Stock Rating Lowered by Zacks Research

Key Points

• Lineage (NASDAQ:LINE) has been downgraded from a "hold" rating to a "strong sell" rating by Zacks Research.
• Several brokerages have lowered their target prices for Lineage, with Citigroup dropping it from $64.00 to $49.00, and Royal Bank of Canada from $64.00 to $51.00.
• Insiders have recently purchased a significant number of shares, with Chairman Kevin Patrick Marchetti increasing his stake by 19.81% through the acquisition of 12,345 shares.

Lineage (NASDAQ:LINE - Get Free Report) was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Monday,Zacks.com reports.

Several other brokerages have also recently issued reports on LINE. Citigroup reduced their target price on Lineage from $64.00 to $49.00 and set a "neutral" rating on the stock in a report on Thursday, June 12th. Royal Bank Of Canada reduced their target price on Lineage from $64.00 to $51.00 and set an "outperform" rating on the stock in a report on Monday, August 18th. Wells Fargo & Company reduced their target price on Lineage from $48.00 to $43.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 27th. Morgan Stanley reduced their target price on Lineage from $50.00 to $46.00 and set an "equal weight" rating on the stock in a report on Monday, September 22nd. Finally, Barclays reduced their target price on Lineage from $52.00 to $51.00 and set an "overweight" rating on the stock in a report on Monday, September 15th. Six research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, Lineage has a consensus rating of "Hold" and a consensus price target of $50.11.

Lineage Price Performance

NASDAQ:LINE opened at $38.64 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 0.72. The business's 50-day simple moving average is $41.27 and its two-hundred day simple moving average is $46.14. The stock has a market cap of $8.84 billion, a PE ratio of -13.85 and a beta of -0.22. Lineage has a 52 week low of $36.66 and a 52 week high of $79.66.

Lineage (NASDAQ:LINE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.81 EPS for the quarter, beating 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 business 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 EPS for the current fiscal year.

Insider Activity at Lineage

In related news, Chairman Kevin Patrick Marchetti acquired 12,345 shares of Lineage stock in a transaction 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 of the company's stock, valued at $3,019,573.92. The trade was a 19.81% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Sudarsan V. Thattai acquired 3,563 shares of Lineage stock in a transaction on Friday, August 8th. The shares were 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 directly owned 7,983 shares of the company's stock, 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. Insiders have acquired 39,448 shares of company stock worth $1,645,752 over the last three months. 71.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LINE. Norges Bank purchased a new position in shares of Lineage during the second quarter valued at approximately $606,642,000. Price T Rowe Associates Inc. MD boosted its position 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 valued at $255,903,000 after buying an additional 1,880,587 shares during the period. Nuveen LLC purchased a new stake in shares of Lineage in the first quarter valued at approximately $37,468,000. Lunate Capital Ltd purchased a new stake in shares of Lineage in the first quarter valued at approximately $35,178,000. Finally, Evergreen Capital Management LLC purchased a new stake in shares of Lineage in the second quarter valued at approximately $13,501,000.

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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