Lineage (NASDAQ:LINE) Stock Price Expected to Rise, Scotiabank Analyst Says

Lineage (NASDAQ:LINE) had its price target raised by Scotiabank from $39.00 to $42.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 13.91% from the company’s previous close.

LINE has been the topic of a number of other research reports. Piper Sandler upped their target price on Lineage from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, February 27th. Weiss Ratings reissued a “sell (d)” rating on shares of Lineage in a research report on Monday, December 29th. Citigroup lifted their price objective on shares of Lineage from $38.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Royal Bank Of Canada increased their price objective on shares of Lineage from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Monday, March 2nd. Finally, Wells Fargo & Company raised their target price on shares of Lineage from $32.00 to $39.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $43.18.

Lineage Trading Down 5.9%

NASDAQ:LINE opened at $36.87 on Wednesday. The company has a market capitalization of $8.37 billion, a P/E ratio of -85.74 and a beta of -0.42. The company has a current ratio of 0.80, a quick ratio of 0.71 and a debt-to-equity ratio of 0.79. Lineage has a 12 month low of $32.46 and a 12 month high of $61.01. The firm has a fifty day simple moving average of $37.52 and a 200-day simple moving average of $37.82.

Lineage (NASDAQ:LINE) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.70). Lineage had a negative net margin of 1.87% and a negative return on equity of 1.06%. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the firm posted $0.83 EPS. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. On average, equities research analysts anticipate that Lineage will post 2.34 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman Kevin Patrick Marchetti acquired 11,222 shares of the business’s stock in a transaction on Monday, March 9th. The stock was bought at an average price of $39.05 per share, with a total value of $438,219.10. Following the completion of the acquisition, the chairman owned 100,390 shares of the company’s stock, valued at approximately $3,920,229.50. This represents a 12.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 71.90% of the company’s stock.

Institutional Investors Weigh In On Lineage

A number of institutional investors have recently modified their holdings of LINE. Jones Financial Companies Lllp raised its holdings in Lineage by 82.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock worth $25,000 after purchasing an additional 300 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Lineage by 172.4% in the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after purchasing an additional 362 shares during the period. Rothschild Investment LLC increased its position in shares of Lineage by 575.2% in the fourth quarter. Rothschild Investment LLC now owns 736 shares of the company’s stock valued at $26,000 after buying an additional 627 shares in the last quarter. Caitlin John LLC purchased a new stake in shares of Lineage in the third quarter valued at approximately $31,000. Finally, Allworth Financial LP raised its stake in shares of Lineage by 426.4% during the 2nd quarter. Allworth Financial LP now owns 758 shares of the company’s stock worth $33,000 after buying an additional 614 shares during the period.

Lineage Company Profile

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.