Lineage (NASDAQ:LINE) Stock Rating Lowered by Zacks Research

Lineage (NASDAQ:LINE) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research firms also recently commented on LINE. JPMorgan Chase & Co. reduced their target price on Lineage from $44.00 to $43.00 and set an “underweight” rating on the stock in a report on Tuesday, September 23rd. Truist Financial cut their target price on Lineage from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, August 22nd. Morgan Stanley reduced their price target on shares of Lineage from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Monday, September 22nd. BNP Paribas set a $42.00 price objective on Lineage in a report on Thursday, June 12th. Finally, Barclays reduced their price objective on Lineage from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, September 15th. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, Lineage currently has an average rating of “Hold” and an average target price of $50.11.

Lineage Stock Performance

Shares of NASDAQ:LINE opened at $38.64 on Monday. The firm has a market capitalization of $8.84 billion, a PE ratio of -13.85 and a beta of -0.22. 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 business has a 50-day moving average of $41.27 and a two-hundred day moving average of $46.14. Lineage has a 12 month low of $36.66 and a 12 month high of $79.66.

Lineage (NASDAQ:LINE) last issued its earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.06. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%.The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. The company’s revenue was up .9% compared to the same quarter last year. As a group, research analysts forecast that Lineage will post 2.34 earnings per share for the current year.

Insiders Place Their Bets

In other Lineage news, Chairman Kevin Patrick Marchetti purchased 12,345 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were bought at an average price of $40.44 per share, for a total transaction of $499,231.80. Following the completion of the acquisition, the chairman owned 74,668 shares in the company, valued at approximately $3,019,573.92. This trade represents a 19.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sudarsan V. Thattai purchased 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 acquisition, the insider owned 7,983 shares of the company’s stock, valued at $338,878.35. This trade represents a 80.61% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 39,448 shares of company stock worth $1,645,752. 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 company. EverSource Wealth Advisors LLC grew its position in Lineage by 172.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after purchasing an additional 362 shares in the last quarter. Signaturefd LLC grew its position in shares of Lineage by 132.3% during the 2nd quarter. Signaturefd LLC now owns 648 shares of the company’s stock valued at $28,000 after acquiring an additional 369 shares during the period. Costello Asset Management INC bought a new position in shares of Lineage during the 1st quarter valued at approximately $29,000. Allworth Financial LP grew its position in shares of Lineage by 426.4% during the 2nd quarter. Allworth Financial LP now owns 758 shares of the company’s stock valued at $33,000 after acquiring an additional 614 shares during the period. Finally, Salomon & Ludwin LLC bought a new position in shares of Lineage during the 1st quarter valued at approximately $34,000.

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.