Lineage (NASDAQ:LINE) Price Target Cut to $89.00 by Analysts at The Goldman Sachs Group

Lineage (NASDAQ:LINE) had its price objective dropped by equities researchers at The Goldman Sachs Group from $104.00 to $89.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 40.09% from the stock’s previous close.

LINE has been the subject of several other reports. Truist Financial started coverage on Lineage in a report on Monday, August 19th. They set a “buy” rating and a $94.00 price objective for the company. KeyCorp started coverage on Lineage in a report on Monday, August 19th. They issued an “overweight” rating and a $92.00 price target for the company. JPMorgan Chase & Co. started coverage on Lineage in a report on Monday, August 19th. They issued an “overweight” rating and a $93.00 price target for the company. Capital One Financial started coverage on Lineage in a report on Monday, September 16th. They issued an “overweight” rating and a $91.00 price target for the company. Finally, Morgan Stanley started coverage on Lineage in a report on Monday, August 19th. They issued an “overweight” rating and a $100.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.75.

Lineage Price Performance

Shares of NASDAQ LINE opened at $63.53 on Thursday. The firm’s fifty day moving average price is $75.90. Lineage has a 1-year low of $62.65 and a 1-year high of $89.85. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($3.22). Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the company posted $0.75 earnings per share. Lineage’s revenue for the quarter was up .5% on a year-over-year basis. Equities research analysts expect that Lineage will post 3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lineage

A number of large investors have recently added to or reduced their stakes in LINE. US Bancorp DE purchased a new stake in Lineage during the third quarter valued at about $25,000. Larson Financial Group LLC purchased a new stake in Lineage during the third quarter valued at about $34,000. Spirit of America Management Corp NY purchased a new stake in Lineage during the third quarter valued at about $165,000. Stifel Financial Corp purchased a new stake in Lineage during the third quarter valued at about $211,000. Finally, MetLife Investment Management LLC purchased a new stake in Lineage during the third quarter valued at about $226,000.

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.