Lineage (NASDAQ:LINE) Given New $74.00 Price Target at Royal Bank of Canada

Lineage (NASDAQ:LINE) had its target price lowered by Royal Bank of Canada from $81.00 to $74.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 21.30% from the company’s current price.

Several other research firms also recently weighed in on LINE. BNP Paribas assumed coverage on Lineage in a research report on Tuesday, January 14th. They set a “neutral” rating and a $61.00 target price on the stock. Evercore ISI reduced their target price on shares of Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut shares of Lineage from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $78.00 to $75.00 in a research note on Friday, December 20th. Robert W. Baird decreased their price objective on shares of Lineage from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Finally, Scotiabank cut their target price on Lineage from $76.00 to $73.00 and set a “sector outperform” rating on the stock in a research note on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $82.00.

Lineage Stock Performance

Shares of Lineage stock traded down $0.72 during trading hours on Thursday, reaching $61.00. The company’s stock had a trading volume of 26,036 shares, compared to its average volume of 962,511. The firm has a 50 day moving average price of $57.80 and a 200-day moving average price of $67.84. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. Lineage has a one year low of $52.75 and a one year high of $89.85.

Insiders Place Their Bets

In related news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of Lineage stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the transaction, the chairman now owns 24,317 shares in the company, valued at approximately $1,471,178.50. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lineage

Institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE purchased a new position in shares of Lineage in the 3rd quarter worth approximately $25,000. GAMMA Investing LLC boosted its stake in Lineage by 7,466.7% in the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after acquiring an additional 448 shares in the last quarter. FIL Ltd acquired a new stake in Lineage in the fourth quarter valued at approximately $29,000. Larson Financial Group LLC purchased a new position in Lineage in the third quarter worth $34,000. Finally, Quarry LP acquired a new position in shares of Lineage during the fourth quarter worth $50,000.

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.