Lineage (NASDAQ:LINE) Given New $60.00 Price Target at Piper Sandler

Lineage (NASDAQ:LINE - Get Free Report) had its price target dropped by investment analysts at Piper Sandler from $75.00 to $60.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's target price would indicate a potential upside of 31.52% from the stock's previous close.

A number of other equities research analysts have also recently issued reports on LINE. Royal Bank of Canada decreased their price target on shares of Lineage from $81.00 to $74.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Evercore ISI lowered their target price on Lineage from $68.00 to $59.00 and set an "in-line" rating on the stock in a report on Thursday, May 1st. BNP Paribas started coverage on Lineage in a report on Tuesday, January 14th. They set a "neutral" rating and a $61.00 price target for the company. Scotiabank restated a "sector perform" rating and issued a $56.00 price objective (down previously from $74.00) on shares of Lineage in a research note on Thursday, April 10th. Finally, The Goldman Sachs Group dropped their target price on shares of Lineage from $89.00 to $77.00 and set a "buy" rating on the stock in a research report on Friday, January 17th. Ten investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.79.

Lineage Stock Up 2.0 %

Shares of LINE traded up $0.91 during mid-day trading on Monday, hitting $45.62. 944,468 shares of the company's stock were exchanged, compared to its average volume of 1,268,537. The stock has a market cap of $10.43 billion and a price-to-earnings ratio of -14.17. The firm has a fifty day moving average of $55.05 and a two-hundred day moving average of $59.20. 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 has a twelve month low of $42.05 and a twelve month high of $89.85.

Lineage (NASDAQ:LINE - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.34 billion. Lineage's revenue was down 2.7% compared to the same quarter last year. On average, sell-side analysts forecast that Lineage will post 2.34 earnings per share for the current year.

Insider Buying and Selling at Lineage

In related news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the business's stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the purchase, the chairman now directly owns 24,317 shares in the company, valued at $1,471,178.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Kevin Patrick Marchetti purchased 11,500 shares of Lineage stock in a transaction dated Tuesday, May 6th. The stock was bought at an average price of $43.75 per share, for a total transaction of $503,125.00. Following the completion of the transaction, the chairman now directly owns 27,733 shares in the company, valued at $1,213,318.75. The trade was a 70.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 40,237 shares of company stock worth $2,174,220. Company insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On Lineage

Several institutional investors have recently modified their holdings of the stock. Barclays PLC bought a new position in Lineage during the 3rd quarter worth approximately $13,928,000. Principal Financial Group Inc. acquired a new stake in Lineage in the third quarter worth $173,115,000. JPMorgan Chase & Co. acquired a new stake in Lineage in the third quarter worth $12,542,000. GAMMA Investing LLC boosted its position in shares of Lineage by 7,466.7% during the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company's stock worth $27,000 after purchasing an additional 448 shares in the last quarter. Finally, Oak Thistle LLC acquired a new position in shares of Lineage in the 4th quarter valued at $391,000.

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.