Lineage (NASDAQ:LINE) Stock Gets Price Target Increase from Piper Sandler

Lineage (NASDAQ:LINE) had its price target raised by investment analysts at Piper Sandler from $36.00 to $37.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler‘s price target would indicate a potential upside of 4.79% from the company’s previous close.

Several other equities analysts also recently weighed in on LINE. The Goldman Sachs Group set a $44.00 price target on Lineage and gave the stock a “buy” rating in a research report on Monday, October 26th. Robert W. Baird reduced their price objective on Lineage from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday. Mizuho raised Lineage from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $40.00 to $47.00 in a research note on Tuesday, July 28th. Citigroup lifted their price objective on Lineage from $42.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Finally, Royal Bank Of Canada boosted their target price on shares of Lineage from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, August 17th. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $41.80.

Lineage Price Performance

LINE stock traded up $0.38 on Friday, reaching $35.31. The company had a trading volume of 955,863 shares, compared to its average volume of 1,125,979. Lineage has a 1 year low of $31.33 and a 1 year high of $45.75. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.70 and a current ratio of 1.05. The company’s fifty day moving average is $35.99 and its 200 day moving average is $38.73. The company has a market cap of $8.04 billion, a P/E ratio of 88.28 and a beta of 0.79.

Insiders Place Their Bets

In other Lineage news, Chairman Kevin Marchetti purchased 25,000 shares of the business’s stock in a transaction on Friday, August 28th. The stock was bought at an average cost of $39.50 per share, for a total transaction of $987,500.00. Following the acquisition, the chairman owned 138,690 shares of the company’s stock, valued at approximately $5,478,255. The trade was a 21.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 71.60% of the company’s stock.

Institutional Investors Weigh In On Lineage

Hedge funds and other institutional investors have recently made changes to their positions in the business. Paralel Advisors LLC purchased a new position in Lineage during the second quarter worth about $26,000. Global Retirement Partners LLC acquired a new stake in Lineage in the 2nd quarter worth about $48,000. Root Financial Partners LLC purchased a new stake in Lineage in the 3rd quarter valued at about $49,000. Parallel Advisors LLC grew its holdings in Lineage by 172.7% in the 1st quarter. Parallel Advisors LLC now owns 1,650 shares of the company’s stock valued at $54,000 after buying an additional 1,045 shares during the period. Finally, Wealth Enhancement Trust Services Inc. increased its stake in shares of Lineage by 88.4% during the 3rd quarter. Wealth Enhancement Trust Services Inc. now owns 1,948 shares of the company’s stock valued at $66,000 after acquiring an additional 914 shares during the last quarter.

Lineage Company Profile

Lineage, Inc. is a global temperature-controlled warehousing and logistics company. It operates refrigerated and frozen storage facilities that help food producers, retailers, and other customers manage products that require controlled temperatures. Its services include cold storage, food processing and handling, blast freezing, transportation, and other supply-chain solutions. By connecting warehouses with transportation and distribution networks, Lineage supports the movement of perishable goods from producers to consumers.