Mizuho Lowers Lineage (NASDAQ:LINE) Price Target to $67.00

Lineage (NASDAQ:LINE) had its price objective dropped by research analysts at Mizuho from $86.00 to $67.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s target price indicates a potential upside of 17.85% from the company’s current price.

A number of other research analysts also recently weighed in on LINE. Scotiabank lowered their target price on Lineage from $94.00 to $76.00 and set a “sector outperform” rating on the stock in a report on Tuesday, December 10th. Robert W. Baird decreased their target price on Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. lowered Lineage from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $78.00 to $75.00 in a research report on Friday, December 20th. Capital One Financial began coverage on shares of Lineage in a research note on Monday, September 16th. They issued an “overweight” rating and a $91.00 price objective for the company. Finally, Royal Bank of Canada lowered their price target on Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.31.

Lineage Price Performance

Shares of Lineage stock traded down $0.15 during midday trading on Wednesday, reaching $56.85. 194,665 shares of the company’s stock traded hands, compared to its average volume of 558,367. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Lineage has a 12 month low of $56.47 and a 12 month high of $89.85. The company’s 50 day moving average is $63.23.

Lineage (NASDAQ:LINE) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The company’s revenue was up .5% on a year-over-year basis. During the same period last year, the business earned $0.75 earnings per share. As a group, equities research analysts forecast that Lineage will post 3 earnings per share for the current year.

Institutional Trading of Lineage

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP acquired a new stake in shares of Lineage during the third quarter worth approximately $265,895,000. Victory Capital Management Inc. bought a new position in Lineage in the 3rd quarter worth $176,790,000. Principal Financial Group Inc. bought a new stake in Lineage during the 3rd quarter valued at approximately $173,115,000. Baillie Gifford & Co. acquired a new stake in shares of Lineage in the third quarter worth $134,351,000. Finally, Janus Henderson Group PLC bought a new position in shares of Lineage during the 3rd quarter worth about $131,875,000.

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.