Evercore ISI Lowers Lineage (NASDAQ:LINE) Price Target to $38.00

Lineage (NASDAQ:LINE) had its price target cut by research analysts at Evercore ISI from $44.00 to $38.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s price objective indicates a potential upside of 9.99% from the company’s current price.

Other equities research analysts have also issued reports about the company. Robert W. Baird decreased their price target on Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 13th. UBS Group reduced their price objective on Lineage from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Mizuho decreased their price objective on Lineage from $44.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Bank of America restated an “underperform” rating and set a $42.00 target price (down previously from $47.00) on shares of Lineage in a research report on Monday, August 11th. Finally, Royal Bank Of Canada cut their price target on Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a research note on Monday, August 18th. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, Lineage currently has a consensus rating of “Reduce” and an average price target of $47.00.

Lineage Stock Performance

Lineage stock opened at $34.55 on Monday. The firm has a market capitalization of $7.90 billion, a P/E ratio of -43.73 and a beta of -0.19. The stock has a fifty day moving average price of $39.71 and a two-hundred day moving average price of $42.39. Lineage has a 52-week low of $33.30 and a 52-week high of $67.28. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.99 and a quick ratio of 0.86.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, November 5th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.07. Lineage had a negative net margin of 3.30% and a negative return on equity of 1.85%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, analysts anticipate that Lineage will post 2.34 EPS for the current fiscal year.

Insider Transactions at Lineage

In related news, CFO Robert Crisci bought 10,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was bought at an average cost of $34.56 per share, for a total transaction of $345,600.00. Following the transaction, the chief financial officer owned 107,859 shares of the company’s stock, valued at $3,727,607.04. This represents a 10.22% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Kevin Patrick Marchetti purchased 12,345 shares of the stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $40.44 per share, with a total value of $499,231.80. Following the completion of the purchase, the chairman owned 74,668 shares in the company, valued at $3,019,573.92. The trade was a 19.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 71.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. American Century Companies Inc. boosted its position in Lineage by 1,396.7% during the 1st quarter. American Century Companies Inc. now owns 230,847 shares of the company’s stock worth $13,535,000 after acquiring an additional 215,423 shares during the last quarter. XTX Topco Ltd raised its holdings in shares of Lineage by 419.2% in the first quarter. XTX Topco Ltd now owns 30,733 shares of the company’s stock valued at $1,802,000 after purchasing an additional 24,814 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Lineage by 8.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 566,040 shares of the company’s stock worth $33,187,000 after purchasing an additional 43,242 shares in the last quarter. Nuveen LLC bought a new stake in shares of Lineage in the first quarter worth $37,468,000. Finally, M&T Bank Corp boosted its holdings in Lineage by 174.5% during the first quarter. M&T Bank Corp now owns 13,690 shares of the company’s stock worth $803,000 after purchasing an additional 8,703 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.