Royal Bank of Canada Issues Pessimistic Forecast for Lineage (NASDAQ:LINE) Stock Price

Lineage (NASDAQ:LINE) had its target price lowered by equities research analysts at Royal Bank of Canada from $81.00 to $74.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 20.80% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Evercore ISI cut their price objective on Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Robert W. Baird cut their price objective on Lineage from $76.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group cut their price objective on Lineage from $89.00 to $77.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. JPMorgan Chase & Co. cut Lineage from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $78.00 to $75.00 in a research report on Friday, December 20th. Finally, Scotiabank cut their price objective on Lineage from $76.00 to $73.00 and set a “sector outperform” rating on the stock in a research report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.00.

Lineage Stock Up 0.4 %

NASDAQ LINE opened at $61.26 on Thursday. The business’s 50-day moving average is $57.91 and its 200 day moving average is $67.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. Lineage has a 1 year low of $52.75 and a 1 year high of $89.85.

Insider Buying and Selling

In related news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $60.50 per share, for a total transaction of $1,471,178.50. Following the purchase, the chairman now owns 24,317 shares in the company, valued at approximately $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lineage

A number of hedge funds have recently added to or reduced their stakes in LINE. Norges Bank purchased a new stake in Lineage during the 4th quarter valued at $681,572,000. Wellington Management Group LLP purchased a new stake in Lineage during the 3rd quarter valued at $265,895,000. D1 Capital Partners L.P. raised its stake in Lineage by 257.5% during the 4th quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company’s stock valued at $219,848,000 after buying an additional 2,703,598 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in Lineage during the 3rd quarter valued at $176,790,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Lineage in the 3rd quarter worth $173,115,000.

About Lineage

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.