UBS Group Cuts Lineage (NASDAQ:LINE) Price Target to $45.00

Lineage (NASDAQ:LINE - Get Free Report) had its target price reduced by research analysts at UBS Group from $49.00 to $45.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's price objective would indicate a potential upside of 3.21% from the company's previous close.

Other research analysts have also issued research reports about the company. Robert W. Baird dropped their target price on Lineage from $70.00 to $64.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Bank of America lowered Lineage from a "buy" rating to a "neutral" rating and set a $49.00 target price on the stock. in a report on Tuesday, May 6th. The Goldman Sachs Group dropped their target price on Lineage from $74.00 to $63.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Scotiabank dropped their target price on Lineage from $56.00 to $50.00 and set a "sector perform" rating on the stock in a report on Thursday, May 15th. Finally, BNP Paribas set a $42.00 target price on Lineage in a report on Thursday, June 12th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $61.15.

Lineage Stock Performance

NASDAQ LINE traded up $0.34 on Wednesday, reaching $43.60. The stock had a trading volume of 677,940 shares, compared to its average volume of 1,044,648. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.86 and a current ratio of 0.99. Lineage has a 12-month low of $40.49 and a 12-month high of $89.85. The business's 50-day moving average price is $44.00 and its 200 day moving average price is $51.64. The stock has a market cap of $9.97 billion and a P/E ratio of 12.71.

Lineage (NASDAQ:LINE - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. The company had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.34 billion. Lineage had a negative return on equity of 7.24% and a negative net margin of 11.88%. The company's quarterly revenue was down 2.7% on a year-over-year basis. As a group, equities analysts expect that Lineage will post 2.34 earnings per share for the current year.

Insider Buying and Selling at Lineage

In related news, Chairman Kevin Patrick Marchetti acquired 11,500 shares of Lineage stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average cost of $43.75 per share, for a total transaction of $503,125.00. Following the completion of the transaction, the chairman directly owned 27,733 shares of the company's stock, valued at $1,213,318.75. The trade was a 70.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Adam Matthew Schwartz Forste acquired 10,949 shares of Lineage stock in a transaction dated Thursday, May 8th. The stock was bought at an average price of $44.93 per share, for a total transaction of $491,938.57. Following the completion of the transaction, the chairman directly owned 35,266 shares of the company's stock, valued at approximately $1,584,501.38. This represents a 45.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 26,869 shares of company stock valued at $1,194,980. Insiders own 71.90% of the company's stock.

Hedge Funds Weigh In On Lineage

Several large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Lineage during the fourth quarter worth about $681,572,000. Vanguard Group Inc. lifted its position in Lineage by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company's stock worth $562,003,000 after buying an additional 408,526 shares during the period. Price T Rowe Associates Inc. MD lifted its position in 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 worth $255,903,000 after buying an additional 1,880,587 shares during the period. D1 Capital Partners L.P. lifted its position in Lineage by 257.5% during the fourth quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company's stock worth $219,848,000 after buying an additional 2,703,598 shares during the period. Finally, Janus Henderson Group PLC lifted its position in Lineage by 92.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company's stock worth $189,380,000 after buying an additional 1,550,478 shares during the period.

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.