Royal Bank of Canada Has Lowered Expectations for Lineage (NASDAQ:LINE) Stock Price

Lineage (NASDAQ:LINE) had its price target lowered by investment analysts at Royal Bank of Canada from $81.00 to $74.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 21.30% from the stock’s previous close.

A number of other research firms have also recently issued reports on LINE. 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. JPMorgan Chase & Co. lowered Lineage from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $78.00 to $75.00 in a research note on Friday, December 20th. Mizuho lowered their price target on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Scotiabank cut their price objective on Lineage from $76.00 to $73.00 and set a “sector outperform” rating on the stock in a report on Monday, February 3rd. Finally, BNP Paribas initiated coverage on Lineage in a report on Tuesday, January 14th. They set a “neutral” rating and a $61.00 target price for the company. Seven 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $82.00.

Lineage Price Performance

Shares of Lineage stock traded down $0.72 during midday trading on Thursday, hitting $61.00. The company had a trading volume of 26,036 shares, compared to its average volume of 962,511. The company has a fifty day simple moving average of $57.80 and a 200 day simple moving average of $67.84. 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 has a 12-month low of $52.75 and a 12-month high of $89.85.

Insider Buying and Selling at Lineage

In other news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the purchase, the chairman now directly owns 24,317 shares in the company, valued at $1,471,178.50. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lineage

A number of large investors have recently bought and sold shares of LINE. Janney Montgomery Scott LLC increased its position in shares of Lineage by 1.9% in the fourth 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. State of Alaska Department of Revenue lifted its position in shares of Lineage by 1.0% during the 4th quarter. State of Alaska Department of Revenue now owns 29,724 shares of the company’s stock valued at $1,740,000 after buying an additional 291 shares in the last quarter. US Bancorp DE acquired a new stake in Lineage in the 3rd quarter valued at $25,000. Nissay Asset Management Corp Japan ADV increased its holdings in Lineage by 4.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 8,910 shares of the company’s stock worth $526,000 after acquiring an additional 340 shares in the last quarter. Finally, Larson Financial Group LLC acquired a new position in Lineage during the third quarter worth $34,000.

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.