Wells Fargo & Company Forecasts Strong Price Appreciation for Lineage (NASDAQ:LINE) Stock

Lineage (NASDAQ:LINE) had its price objective boosted by analysts at Wells Fargo & Company from $32.00 to $39.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential downside of 2.15% from the stock’s current price.

A number of other brokerages also recently issued reports on LINE. Barclays reaffirmed a “positive” rating on shares of Lineage in a report on Wednesday, February 4th. Robert W. Baird restated a “neutral” rating and issued a $39.00 price objective (down from $45.00) on shares of Lineage in a research note on Thursday, December 18th. Wall Street Zen cut shares of Lineage from a “hold” rating to a “sell” rating in a research note on Saturday. Morgan Stanley decreased their price target on Lineage from $46.00 to $39.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 16th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Lineage in a report on Monday, December 29th. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, Lineage presently has an average rating of “Reduce” and a consensus target price of $42.53.

Lineage Stock Down 1.6%

Shares of NASDAQ LINE traded down $0.66 during trading on Monday, reaching $39.86. The company had a trading volume of 169,508 shares, compared to its average volume of 1,513,631. Lineage has a 12-month low of $32.46 and a 12-month high of $62.30. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of 0.79. The business’s 50-day moving average is $36.68 and its 200 day moving average is $37.81. The stock has a market cap of $9.10 billion, a PE ratio of -92.82 and a beta of -0.43.

Lineage (NASDAQ:LINE) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.70). Lineage had a negative return on equity of 1.06% and a negative net margin of 1.87%.The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the firm earned $0.83 EPS. Lineage’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, equities analysts forecast that Lineage will post 2.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LINE. Norges Bank purchased a new position in shares of Lineage during the 2nd quarter worth about $606,642,000. Morgan Stanley lifted its stake in Lineage by 378.6% in the fourth quarter. Morgan Stanley now owns 5,017,332 shares of the company’s stock worth $175,607,000 after purchasing an additional 3,968,958 shares during the last quarter. Darlington Partners Capital Management LP boosted its position in shares of Lineage by 45.5% during the third quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock valued at $198,332,000 after buying an additional 1,605,810 shares during the period. AQR Capital Management LLC grew its stake in shares of Lineage by 636.1% during the fourth quarter. AQR Capital Management LLC now owns 1,330,439 shares of the company’s stock valued at $46,273,000 after buying an additional 1,149,686 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new stake in shares of Lineage in the third quarter worth approximately $43,804,000.

Lineage Company Profile

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.