The Goldman Sachs Group Cuts Lineage (NASDAQ:LINE) Price Target to $63.00

Lineage (NASDAQ:LINE) had its target price trimmed by The Goldman Sachs Group from $74.00 to $63.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

LINE has been the topic of several other research reports. Evercore ISI cut their price objective on shares of Lineage from $68.00 to $59.00 and set an “in-line” rating on the stock in a report on Thursday, May 1st. UBS Group dropped their target price on Lineage from $62.00 to $49.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Barclays began coverage on Lineage in a research report on Wednesday, April 9th. They issued an “overweight” rating and a $59.00 target price on the stock. Piper Sandler dropped their target price on Lineage from $75.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $56.00 target price (down previously from $74.00) on shares of Lineage in a research report on Thursday, April 10th. Ten research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.74.

Lineage Stock Performance

LINE opened at $47.63 on Wednesday. Lineage has a 52-week low of $42.05 and a 52-week high of $89.85. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The company has a market cap of $10.89 billion and a P/E ratio of -14.79. The firm’s 50-day moving average price is $53.69 and its 200-day moving average price is $58.30.

Lineage (NASDAQ:LINE) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 earnings per share (EPS) for the quarter, beating 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. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, equities analysts anticipate that Lineage will post 2.34 EPS for the current fiscal year.

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were given a $0.5275 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 4.43%. Lineage’s dividend payout ratio is presently -65.53%.

Insiders Place Their Bets

In other news, Chairman Kevin Patrick Marchetti acquired 11,500 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were bought at an average price of $43.75 per share, for a total transaction of $503,125.00. Following the acquisition, the chairman now owns 27,733 shares of the company’s stock, valued at approximately $1,213,318.75. This trade represents a 70.84% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was purchased at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the acquisition, the chairman now directly owns 24,317 shares in the company, valued at $1,471,178.50. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 51,186 shares of company stock worth $2,666,159. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Lineage by 7,466.7% in the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after purchasing an additional 448 shares in the last quarter. FIL Ltd purchased a new position in Lineage in the 4th quarter valued at $29,000. Costello Asset Management INC acquired a new stake in shares of Lineage in the 1st quarter worth $29,000. Salomon & Ludwin LLC acquired a new stake in shares of Lineage in the 1st quarter worth $34,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Lineage by 170.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock worth $43,000 after acquiring an additional 460 shares during the last quarter.

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.