Wells Fargo & Company Cuts Lineage (NASDAQ:LINE) Price Target to $36.00

Lineage (NASDAQ:LINE) had its target price decreased by equities research analysts at Wells Fargo & Company from $39.00 to $36.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential downside of 18.73% from the stock’s previous close.

A number of other analysts have also weighed in on the company. Scotiabank raised their target price on Lineage from $39.00 to $42.00 and gave the company a “hold” rating in a research note on Wednesday, March 11th. Wall Street Zen upgraded shares of Lineage from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 19th. Zacks Research upgraded shares of Lineage from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Compass Point started coverage on shares of Lineage in a research note on Wednesday, March 18th. They set a “buy” rating and a $47.00 price target on the stock. Finally, Truist Financial boosted their price objective on shares of Lineage from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, Lineage presently has a consensus rating of “Reduce” and a consensus price target of $43.11.

Lineage Price Performance

NASDAQ:LINE traded down $0.12 during trading hours on Monday, reaching $44.30. The company had a trading volume of 128,261 shares, compared to its average volume of 1,224,641. The company has a quick ratio of 0.76, a current ratio of 0.85 and a debt-to-equity ratio of 0.82. The stock has a 50-day moving average of $36.94 and a two-hundred day moving average of $36.62. Lineage has a one year low of $31.33 and a one year high of $46.99. The firm has a market capitalization of $10.08 billion, a PE ratio of -71.33 and a beta of 0.87.

Lineage (NASDAQ:LINE) last announced its earnings results on Wednesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $1.01. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Lineage had a negative net margin of 2.72% and a negative return on equity of 1.56%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the company posted $0.86 EPS. Analysts forecast that Lineage will post 2.39 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman Kevin Patrick Marchetti acquired 13,300 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average price of $37.50 per share, for a total transaction of $498,750.00. Following the completion of the acquisition, the chairman owned 113,690 shares in the company, valued at $4,263,375. This trade represents a 13.25% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 71.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its holdings in shares of Lineage by 172.4% in the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after acquiring an additional 362 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Lineage by 82.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock worth $25,000 after buying an additional 300 shares during the period. Rothschild Investment LLC lifted its stake in Lineage by 575.2% in the fourth quarter. Rothschild Investment LLC now owns 736 shares of the company’s stock valued at $26,000 after buying an additional 627 shares in the last quarter. Caitlin John LLC acquired a new position in shares of Lineage in the third quarter valued at approximately $31,000. Finally, Allworth Financial LP increased its position in shares of Lineage by 106.6% during the fourth quarter. Allworth Financial LP now owns 940 shares of the company’s stock worth $33,000 after acquiring an additional 485 shares in the last quarter.

About Lineage

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.