Piper Sandler Lowers Lineage (NASDAQ:LINE) Price Target to $35.00

Key Points

• Piper Sandler cut Lineage's price target from $43 to $35 and maintained a "neutral" rating, implying only about a 6.3% upside from the current share price.
• Lineage missed the quarter with EPS of $0.03 versus $0.73 expected and revenue slightly below estimates, leaving the company with negative margins and pressure on near-term fundamentals.
• Chairman Kevin Marchetti purchased 13,300 shares at $37.50, increasing his stake, and company insiders now own a majority stake at 71.9%, signaling insider confidence despite mixed analyst views.

Lineage (NASDAQ:LINE - Get Free Report) had its price target lowered by investment analysts at Piper Sandler from $43.00 to $35.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's target price points to a potential upside of 6.30% from the company's current price.

Several other equities research analysts have also issued reports on LINE. Barclays reiterated a "positive" rating on shares of Lineage in a report on Wednesday, February 4th. Wells Fargo & Company raised their price objective on shares of Lineage from $32.00 to $39.00 and gave the company an "equal weight" rating in a research report on Monday, March 2nd. Citigroup lifted their target price on shares of Lineage from $38.00 to $42.00 and gave the company a "neutral" rating in a research note on Monday, March 2nd. Truist Financial boosted their target price on shares of Lineage from $41.00 to $44.00 and gave the stock a "buy" rating in a research report on Wednesday, March 4th. Finally, Scotiabank increased their price target on shares of Lineage from $39.00 to $42.00 and gave the stock a "hold" rating in a research note on Wednesday, March 11th. Five investment analysts have rated the stock with a Buy rating, eleven have given 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 an average price target of $43.28.

Lineage Stock Up 0.5%

Shares of Lineage stock traded up $0.17 on Wednesday, hitting $32.93. 475,880 shares of the company traded hands, compared to its average volume of 1,377,578. Lineage has a 12-month low of $31.33 and a 12-month high of $58.86. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of 0.79. The company has a market cap of $7.48 billion, a PE ratio of -76.58 and a beta of -0.42. The company has a 50-day moving average price of $37.28 and a 200 day moving average price of $37.20.

Lineage (NASDAQ:LINE - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.70). Lineage had a negative return on equity of 1.06% and a negative net margin of 1.87%.The firm had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the prior year, the business posted $0.83 earnings per share. Lineage's revenue was down .2% on a year-over-year basis. Sell-side analysts predict that Lineage will post 2.34 earnings per share for the current year.

Insiders Place Their Bets

In related news, Chairman Kevin Patrick Marchetti bought 13,300 shares of the firm's stock in a transaction on Thursday, March 12th. The stock was purchased at an average price of $37.50 per share, with a total value of $498,750.00. Following the completion of the transaction, the chairman directly owned 113,690 shares of the company's stock, valued at $4,263,375. This trade represents a 13.25% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 71.90% of the company's stock.

Hedge Funds Weigh In On Lineage

A number of institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC boosted its holdings in shares of Lineage by 20.0% during the 4th quarter. Hsbc Holdings PLC now owns 119,467 shares of the company's stock worth $4,181,000 after buying an additional 19,915 shares during the period. Rockefeller Capital Management L.P. raised its holdings in Lineage by 53.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 158,378 shares of the company's stock worth $5,543,000 after acquiring an additional 55,469 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in Lineage by 407.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,041 shares of the company's stock worth $71,000 after acquiring an additional 1,639 shares during the last quarter. Invesco Ltd. lifted its position in Lineage by 21.9% during the 4th quarter. Invesco Ltd. now owns 219,262 shares of the company's stock worth $7,674,000 after acquiring an additional 39,442 shares during the last quarter. Finally, Corient Private Wealth LLC increased its stake in shares of Lineage by 100.4% in the fourth quarter. Corient Private Wealth LLC now owns 172,229 shares of the company's stock worth $6,028,000 after purchasing an additional 86,277 shares during the period.

About Lineage

Lineage Logistics, Inc NASDAQ: LINE is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage's core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.

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