Lineage (NASDAQ:LINE) Price Target Cut to $43.00 by Analysts at Wells Fargo & Company

Lineage (NASDAQ:LINE) had its price target decreased by equities researchers at Wells Fargo & Company from $48.00 to $43.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 4.84% from the stock’s current price.

LINE has been the topic of a number of other research reports. Barclays lowered their price target on Lineage from $59.00 to $52.00 and set an “overweight” rating on the stock in a research report on Monday, July 21st. Piper Sandler lowered their price target on Lineage from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Morgan Stanley lowered Lineage from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $75.00 to $50.00 in a research report on Monday, June 23rd. KeyCorp reissued a “sector weight” rating and set a $84.00 target price on shares of Lineage in a research note on Tuesday, July 1st. Finally, Evercore ISI cut their target price on Lineage from $59.00 to $45.00 and set an “in-line” rating for the company in a research note on Friday, August 8th. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Lineage has an average rating of “Hold” and a consensus price target of $53.26.

Lineage Stock Down 1.8%

Shares of LINE stock opened at $41.02 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.96 and a quick ratio of 0.83. The stock’s fifty day moving average price is $42.63 and its 200 day moving average price is $49.10. The company has a market cap of $9.38 billion and a price-to-earnings ratio of -14.70. Lineage has a 1-year low of $38.83 and a 1-year high of $86.03.

Lineage (NASDAQ:LINE) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.06. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%.The business’s revenue was up .9% on a year-over-year basis. On average, research analysts expect that Lineage will post 2.34 earnings per share for the current fiscal year.

Insider Transactions at Lineage

In other news, insider Sudarsan V. Thattai bought 3,563 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were acquired at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the transaction, the insider owned 7,983 shares of the company’s stock, valued at approximately $338,878.35. This trade represents a 80.61% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Kevin Patrick Marchetti bought 12,345 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $40.44 per share, for a total transaction of $499,231.80. Following the transaction, the chairman directly owned 74,668 shares of the company’s stock, valued at approximately $3,019,573.92. This represents a 19.81% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 39,448 shares of company stock worth $1,645,752 in the last quarter. Insiders own 71.90% of the company’s stock.

Institutional Investors Weigh In On Lineage

Institutional investors have recently added to or reduced their stakes in the business. Mariner LLC acquired a new stake in shares of Lineage in the 4th quarter worth approximately $548,000. Stifel Financial Corp lifted its stake in shares of Lineage by 30.5% during the 4th quarter. Stifel Financial Corp now owns 3,509 shares of the company’s stock worth $206,000 after purchasing an additional 821 shares during the period. Hsbc Holdings PLC increased its holdings in shares of Lineage by 17.4% during the 4th quarter. Hsbc Holdings PLC now owns 43,941 shares of the company’s stock worth $2,574,000 after buying an additional 6,500 shares during the last quarter. Quarry LP acquired a new stake in shares of Lineage during the 4th quarter worth $50,000. Finally, Tudor Investment Corp ET AL acquired a new stake in Lineage in the 4th quarter valued at $1,220,000.

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.