Lineage (NASDAQ:LINE) Stock Rating Lowered by BNP Paribas

Lineage (NASDAQ:LINE) was downgraded by analysts at BNP Paribas from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other brokerages also recently commented on LINE. Morgan Stanley dropped their price objective on shares of Lineage from $80.00 to $75.00 and set an “overweight” rating for the company in a research note on Tuesday, April 1st. Robert W. Baird dropped their price objective on shares of Lineage from $70.00 to $64.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. UBS Group dropped their price target on shares of Lineage from $62.00 to $49.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Evercore ISI decreased their price objective on shares of Lineage from $68.00 to $59.00 and set an “in-line” rating for the company in a research report on Thursday, May 1st. Finally, Royal Bank of Canada reduced 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. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $65.55.

Lineage Stock Performance

Shares of NASDAQ:LINE opened at $43.65 on Thursday. The company’s 50 day moving average price is $48.52 and its two-hundred day moving average price is $55.23. Lineage has a 12-month low of $41.88 and a 12-month high of $89.85. The firm has a market cap of $9.98 billion and a PE ratio of -13.56. 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 (NASDAQ:LINE) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.29 billion during 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. Equities research analysts predict that Lineage will post 2.34 earnings per share for the current year.

Insider Transactions at Lineage

In other Lineage news, Chairman Kevin Patrick Marchetti bought 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, with a total value of $503,125.00. Following the acquisition, the chairman now directly owns 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sudarsan V. Thattai bought 4,420 shares of Lineage stock in a transaction dated Monday, May 5th. The stock was acquired at an average cost of $45.23 per share, for a total transaction of $199,916.60. Following the completion of the acquisition, the insider now directly owns 4,420 shares in the company, valued at $199,916.60. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 26,869 shares of company stock valued at $1,194,980 over the last quarter. Company insiders own 71.90% of the company’s stock.

Institutional Trading of Lineage

Several institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Lineage in the 4th quarter valued at about $681,572,000. Vanguard Group Inc. grew its holdings 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 purchasing an additional 408,526 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 acquiring an additional 1,880,587 shares during the period. D1 Capital Partners L.P. boosted its holdings in shares of 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 acquiring an additional 2,703,598 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of Lineage by 92.1% in the fourth quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company’s stock valued at $189,380,000 after buying an additional 1,550,478 shares in the last quarter.

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.