The Goldman Sachs Group Lowers Lineage (NASDAQ:LINE) Price Target to $89.00

Lineage (NASDAQ:LINE) had its price objective dropped by stock analysts at The Goldman Sachs Group from $104.00 to $89.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 40.09% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Mizuho began coverage on Lineage in a research report on Monday, August 19th. They set a “neutral” rating and a $86.00 target price on the stock. JPMorgan Chase & Co. began coverage on Lineage in a research report on Monday, August 19th. They set an “overweight” rating and a $93.00 target price on the stock. Piper Sandler began coverage on Lineage in a research report on Monday, August 19th. They set an “overweight” rating and a $102.00 target price on the stock. Truist Financial began coverage on Lineage in a research note on Monday, August 19th. They set a “buy” rating and a $94.00 price target on the stock. Finally, Morgan Stanley began coverage on Lineage in a research note on Monday, August 19th. They set an “overweight” rating and a $100.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.75.

Lineage Stock Up 0.6 %

Shares of LINE opened at $63.53 on Thursday. Lineage has a 12 month low of $62.65 and a 12 month high of $89.85. The stock’s 50-day moving average is $75.90. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07.

Lineage (NASDAQ:LINE) last announced its earnings results on Wednesday, November 6th. The company reported ($2.44) EPS for the quarter, missing the consensus estimate of $0.78 by ($3.22). Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the company earned $0.75 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. As a group, research analysts anticipate that Lineage will post 3 earnings per share for the current fiscal year.

Institutional Trading of Lineage

A number of institutional investors and hedge funds have recently modified their holdings of the business. M&T Bank Corp purchased a new stake in shares of Lineage during the third quarter valued at approximately $356,000. Barclays PLC purchased a new stake in shares of Lineage during the third quarter valued at approximately $13,928,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Lineage during the third quarter valued at approximately $1,754,000. Nomura Asset Management Co. Ltd. purchased a new stake in shares of Lineage during the third quarter valued at approximately $5,787,000. Finally, Zimmer Partners LP purchased a new stake in shares of Lineage during the third quarter valued at approximately $23,592,000.

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.