Lineage (NASDAQ:LINE) Price Target Raised to $74.00

Lineage (NASDAQ:LINE) had its target price boosted by research analysts at Scotiabank from $73.00 to $74.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 21.24% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Royal Bank of Canada cut their target price on Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a research note on Thursday. Robert W. Baird reduced their price target on shares of Lineage from $76.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. JPMorgan Chase & Co. downgraded shares of Lineage from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $78.00 to $75.00 in a research note on Friday, December 20th. Finally, Piper Sandler reduced their price objective on shares of Lineage from $90.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $82.06.

Lineage Trading Down 0.4 %

Shares of NASDAQ:LINE traded down $0.23 on Monday, hitting $61.04. 495,466 shares of the company traded hands, compared to its average volume of 977,910. Lineage has a 52 week low of $52.75 and a 52 week 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. The stock has a 50 day simple moving average of $57.95 and a 200-day simple moving average of $67.30.

Insider Buying and Selling

In related news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the acquisition, the chairman now directly owns 24,317 shares of the company’s stock, valued at approximately $1,471,178.50. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE bought a new position in shares of Lineage during the third quarter worth about $25,000. Larson Financial Group LLC acquired a new stake in shares of Lineage in the third quarter valued at approximately $34,000. GAMMA Investing LLC boosted its position in shares of Lineage by 7,466.7% during the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $27,000 after buying an additional 448 shares during the period. FIL Ltd bought a new position in Lineage in the 4th quarter worth approximately $29,000. Finally, Quarry LP acquired a new stake in Lineage in the 4th quarter valued at approximately $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.