Scotiabank Issues Positive Forecast for Lineage (NASDAQ:LINE) Stock Price

Lineage (NASDAQ:LINE) had its price target increased by Scotiabank from $73.00 to $74.00 in a research report sent to investors on Monday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Several other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Lineage from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $78.00 to $75.00 in a research note on Friday, December 20th. Royal Bank of Canada decreased their price target on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Piper Sandler decreased their price target on shares of Lineage from $90.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group decreased their price target on shares of Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a report on Friday, January 17th. Finally, BNP Paribas initiated coverage on shares of Lineage in a report on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Lineage currently has an average rating of “Moderate Buy” and a consensus target price of $82.06.

Lineage Price Performance

Shares of LINE opened at $60.72 on Monday. Lineage has a twelve month low of $52.75 and a twelve month high of $89.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. The company has a 50 day moving average of $57.95 and a two-hundred day moving average of $67.30.

Insider Activity

In related news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the transaction, the chairman now directly owns 24,317 shares in the company, valued at $1,471,178.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Lineage

A number of institutional investors and hedge funds have recently bought and sold shares of LINE. US Bancorp DE acquired a new position in Lineage during the third quarter worth about $25,000. Janney Montgomery Scott LLC acquired a new position in Lineage during the third quarter worth about $781,000. Van ECK Associates Corp acquired a new position in Lineage during the third quarter worth about $833,000. Amalgamated Bank acquired a new position in Lineage during the third quarter worth about $255,000. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Lineage during the third quarter worth about $2,145,000.

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.