Lineage (NASDAQ:LINE – Get Free Report) had its target price decreased by Barclays from $59.00 to $52.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 23.84% from the stock’s previous close.
Several other analysts also recently weighed in on the company. BNP Paribas Exane downgraded Lineage from a “neutral” rating to an “underperform” rating and set a $42.00 price target on the stock. in a research note on Thursday, June 12th. UBS Group reduced their price objective on Lineage from $62.00 to $49.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. The Goldman Sachs Group reduced their price objective on Lineage from $74.00 to $63.00 and set a “buy” rating for the company in a research note on Wednesday, May 14th. Piper Sandler reduced their price objective on Lineage from $75.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Finally, BNP Paribas set a $42.00 price target on Lineage in a report on Thursday, June 12th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.35.
Check Out Our Latest Research Report on Lineage
Lineage Trading Up 1.4%
Lineage (NASDAQ:LINE – Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. Lineage had a negative return on equity of 7.24% and a negative net margin of 11.88%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.34 billion. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities research analysts predict that Lineage will post 2.34 EPS for the current year.
Insider Buying and Selling at Lineage
In other Lineage news, Chairman Adam Matthew Schwartz Forste purchased 10,949 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were bought at an average price of $44.93 per share, with a total value of $491,938.57. Following the completion of the acquisition, the chairman owned 35,266 shares in the company, valued at approximately $1,584,501.38. This represents a 45.03% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sudarsan V. Thattai bought 4,420 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were purchased at an average cost of $45.23 per share, for a total transaction of $199,916.60. Following the acquisition, the insider owned 4,420 shares of the company’s stock, valued at $199,916.60. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 26,869 shares of company stock worth $1,194,980 over the last ninety days. Company insiders own 71.90% of the company’s stock.
Hedge Funds Weigh In On Lineage
Several institutional investors and hedge funds have recently modified their holdings of the stock. Lunate Capital Ltd acquired a new position in shares of Lineage during the first quarter valued at about $35,178,000. GAMMA Investing LLC raised its holdings in shares of Lineage by 3,141.4% during the first quarter. GAMMA Investing LLC now owns 14,716 shares of the company’s stock worth $863,000 after acquiring an additional 14,262 shares during the period. M&T Bank Corp raised its holdings in shares of Lineage by 174.5% during the first quarter. M&T Bank Corp now owns 13,690 shares of the company’s stock worth $803,000 after acquiring an additional 8,703 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in shares of Lineage by 16.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 175,000 shares of the company’s stock worth $10,250,000 after acquiring an additional 25,000 shares during the period. Finally, Mariner LLC bought a new position in Lineage in the fourth quarter valued at $548,000.
Lineage Company Profile
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.
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