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

Lineage (NASDAQ:LINE) had its price objective decreased by analysts at Truist Financial from $60.00 to $53.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 31.58% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Robert W. Baird reduced their price objective on Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 13th. UBS Group reduced their price objective on Lineage from $49.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 23rd. Evercore ISI reduced their price objective on Lineage from $59.00 to $45.00 and set an “in-line” rating on the stock in a research note on Friday, August 8th. JPMorgan Chase & Co. cut 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. Finally, BNP Paribas set a $42.00 price objective on Lineage in a research note on Thursday, June 12th. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $53.53.

Lineage Trading Up 3.0%

Shares of Lineage stock opened at $40.28 on Friday. The firm has a market cap of $9.21 billion and a price-to-earnings ratio of -14.44. The business has a 50-day moving average price of $42.74 and a 200-day moving average price of $49.33. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 0.72. Lineage has a twelve month low of $38.83 and a twelve month high of $86.60.

Lineage (NASDAQ:LINE) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%.The business’s revenue was up .9% on a year-over-year basis. Equities research analysts anticipate that Lineage will post 2.34 EPS for the current fiscal year.

Insider Activity at Lineage

In other Lineage news, insider Sudarsan V. Thattai bought 3,563 shares of the company’s stock in a transaction on Friday, August 8th. The stock was acquired at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the transaction, the insider directly owned 7,983 shares of the company’s stock, valued at approximately $338,878.35. This represents a 80.61% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Kevin Patrick Marchetti bought 23,540 shares of the company’s stock in a transaction on Friday, August 8th. The shares were acquired at an average price of $42.28 per share, with a total value of $995,271.20. Following the transaction, the chairman directly owned 62,323 shares of the company’s stock, valued at approximately $2,635,016.44. This trade represents a 60.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 39,448 shares of company stock valued at $1,645,752 in the last 90 days. Company insiders own 71.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. XTX Topco Ltd raised its stake in shares of Lineage by 419.2% during the first quarter. XTX Topco Ltd now owns 30,733 shares of the company’s stock valued at $1,802,000 after acquiring an additional 24,814 shares in the last quarter. Lunate Capital Ltd bought a new stake in shares of Lineage during the first quarter valued at approximately $35,178,000. GAMMA Investing LLC raised its stake in shares of Lineage by 3,141.4% during the first quarter. GAMMA Investing LLC now owns 14,716 shares of the company’s stock valued at $863,000 after acquiring an additional 14,262 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Lineage by 8.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 566,040 shares of the company’s stock valued at $33,187,000 after acquiring an additional 43,242 shares in the last quarter. Finally, M&T Bank Corp raised its stake in shares of Lineage by 174.5% during the first quarter. M&T Bank Corp now owns 13,690 shares of the company’s stock valued at $803,000 after acquiring an additional 8,703 shares in 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.