Lineage (NASDAQ:LINE) Given New $44.00 Price Target at Evercore ISI

Lineage (NASDAQ:LINE) had its price target decreased by stock analysts at Evercore ISI from $45.00 to $44.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s target price suggests a potential upside of 4.99% from the company’s current price.

A number of other equities research analysts also recently weighed in on LINE. Wells Fargo & Company decreased their price target on shares of Lineage from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 27th. KeyCorp reissued a “sector weight” rating and set a $84.00 price objective on shares of Lineage in a report on Tuesday, July 1st. Barclays cut their price objective on Lineage from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Monday, September 15th. Citigroup cut their price objective on Lineage from $64.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, June 12th. Finally, Bank of America reissued an “underperform” rating and set a $42.00 price objective (down from $47.00) on shares of Lineage in a report on Monday, August 11th. Six equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $50.06.

Lineage Trading Up 1.1%

Shares of Lineage stock opened at $41.91 on Monday. The company’s fifty day simple moving average is $41.06 and its 200-day simple moving average is $45.62. The company has a market cap of $9.59 billion, a price-to-earnings ratio of -14.96 and a beta of -0.23. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72. Lineage has a 1 year low of $36.66 and a 1 year high of $79.14.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 earnings per share (EPS) for the quarter, topping 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 net margin of 10.57% and a negative return on equity of 5.76%. The company’s revenue was up .9% on a year-over-year basis. As a group, sell-side analysts expect that Lineage will post 2.34 EPS for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Lineage

Several large investors have recently made changes to their positions in the stock. Corient Private Wealth LLC boosted its holdings in shares of Lineage by 590.5% in the 2nd quarter. Corient Private Wealth LLC now owns 88,680 shares of the company’s stock valued at $3,859,000 after buying an additional 75,838 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in Lineage by 155.1% during the 2nd quarter. Osaic Holdings Inc. now owns 17,605 shares of the company’s stock valued at $767,000 after purchasing an additional 10,703 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in Lineage by 118.0% during the 2nd quarter. Squarepoint Ops LLC now owns 65,210 shares of the company’s stock valued at $2,838,000 after purchasing an additional 35,294 shares during the last quarter. Evergreen Capital Management LLC acquired a new stake in Lineage during the 2nd quarter valued at $13,501,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Lineage by 69.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,427 shares of the company’s stock valued at $149,000 after purchasing an additional 1,401 shares during the last quarter.

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.