Truist Financial Cuts Lineage (NASDAQ:LINE) Price Target to $53.00

Key Points

• Truist Financial has reduced its price target for Lineage (NASDAQ:LINE) from $60.00 to $53.00, while maintaining a "buy" rating, indicating a potential upside of 35.58% from the current stock price.
• Other brokerages have also revised their price targets, with Piper Sandler setting a new objective of $55.00 and Evercore ISI lowering it to $45.00, reflecting a consensus rating of "Hold" among analysts.
• Insider transactions show confidence in the company, as executives Sudarsan V. Thattai and Kevin Patrick Marchetti recently purchased significant shares, marking increases of 80.61% and 19.81% in their ownership, respectively.

Lineage (NASDAQ:LINE - Get Free Report) had its price objective dropped by equities researchers at Truist Financial from $60.00 to $53.00 in a research note issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's price objective suggests a potential upside of 35.58% from the stock's current price.

A number of other brokerages have also weighed in on LINE. Piper Sandler cut their price objective on Lineage from $60.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Evercore ISI decreased their price target on shares of Lineage from $59.00 to $45.00 and set an "in-line" rating for the company in a research note on Friday, August 8th. JPMorgan Chase & Co. downgraded shares of Lineage from a "neutral" rating to an "underweight" rating and reduced their price objective for the stock from $55.00 to $50.00 in a research note on Monday, June 23rd. BNP Paribas set a $42.00 price target on Lineage in a research report on Thursday, June 12th. Finally, KeyCorp reissued a "sector weight" rating and set a $84.00 price objective on shares of Lineage in a report on Tuesday, July 1st. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $53.53.

Lineage Trading Down 0.2%

Shares of LINE stock opened at $39.09 on Friday. Lineage has a 52-week low of $38.83 and a 52-week high of $86.60. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.96. The firm has a market capitalization of $8.94 billion and a PE ratio of -14.01. The stock has a fifty day simple moving average of $42.81 and a two-hundred day simple moving average of $49.52.

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, topping 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 company had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.33 billion. Lineage's quarterly revenue was up .9% on a year-over-year basis. On average, analysts predict that Lineage will post 2.34 EPS for the current fiscal year.

Insider Transactions at Lineage

In other Lineage news, insider Sudarsan V. Thattai acquired 3,563 shares of the business's stock in a transaction on Friday, August 8th. The stock was bought at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the acquisition, the insider owned 7,983 shares in the company, valued at approximately $338,878.35. The trade was a 80.61% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Kevin Patrick Marchetti purchased 12,345 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average cost of $40.44 per share, with a total value of $499,231.80. Following the purchase, the chairman owned 74,668 shares in the company, valued at approximately $3,019,573.92. This trade represents a 19.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 39,448 shares of company stock valued at $1,645,752. 71.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Lineage

A number of hedge funds have recently made changes to their positions in LINE. EverSource Wealth Advisors LLC boosted its position in shares of Lineage by 172.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company's stock worth $25,000 after purchasing an additional 362 shares during the period. Signaturefd LLC boosted its position in shares of Lineage by 132.3% during the 2nd quarter. Signaturefd LLC now owns 648 shares of the company's stock worth $28,000 after purchasing an additional 369 shares during the period. Costello Asset Management INC purchased a new position in shares of Lineage during the 1st quarter worth approximately $29,000. Allworth Financial LP boosted its position in shares of Lineage by 426.4% during the 2nd quarter. Allworth Financial LP now owns 758 shares of the company's stock worth $33,000 after purchasing an additional 614 shares during the period. Finally, Salomon & Ludwin LLC purchased a new position in shares of Lineage during the 1st quarter worth approximately $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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