The Goldman Sachs Group Cuts Lineage (NASDAQ:LINE) Price Target to $77.00

Lineage (NASDAQ:LINE) had its target price cut by The Goldman Sachs Group from $89.00 to $77.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently commented on LINE. Evercore ISI decreased their target price on shares of Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Mizuho decreased their target price on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. downgraded shares of Lineage from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $78.00 to $75.00 in a research report on Friday, December 20th. Royal Bank of Canada decreased their target price on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Finally, Robert W. Baird decreased their price objective on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.06.

Lineage Stock Up 1.3 %

Shares of LINE opened at $58.18 on Friday. The company’s 50 day moving average is $60.80. Lineage has a 52 week low of $52.75 and a 52 week high of $89.85. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.

Lineage (NASDAQ:LINE) last posted 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). The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The business’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 earnings per share. As a group, equities research analysts anticipate that Lineage will post 2.33 earnings per share for the current year.

Lineage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 3.63%. The ex-dividend date is Tuesday, December 31st.

Hedge Funds Weigh In On Lineage

Several large investors have recently bought and sold shares of the stock. Galvin Gaustad & Stein LLC acquired a new position in Lineage during the 4th quarter valued at $9,338,000. Janney Montgomery Scott LLC raised its stake in shares of Lineage by 1.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 10,154 shares of the company’s stock valued at $595,000 after buying an additional 185 shares in the last quarter. Alpha Cubed Investments LLC acquired a new position in shares of Lineage in the 4th quarter valued at $387,000. Oak Thistle LLC acquired a new position in shares of Lineage in the 4th quarter valued at $391,000. Finally, GAMMA Investing LLC raised its stake in shares of Lineage by 7,466.7% in the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after buying an additional 448 shares in 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.