Lineage (NASDAQ:LINE) Given New $74.00 Price Target at Scotiabank

Lineage (NASDAQ:LINE) had its price target upped by investment analysts at Scotiabank from $73.00 to $74.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 21.24% from the company’s current price.

Several other research analysts have also weighed in on LINE. JPMorgan Chase & Co. lowered Lineage from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $78.00 to $75.00 in a research report on Friday, December 20th. Robert W. Baird reduced their target price on shares of Lineage from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. BNP Paribas started coverage on shares of Lineage in a research note on Tuesday, January 14th. They set a “neutral” rating and a $61.00 price target on the stock. Piper Sandler reduced their price target on Lineage from $90.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Finally, Mizuho decreased their target price on Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.06.

Lineage Trading Down 0.4 %

Shares of NASDAQ:LINE traded down $0.23 during trading on Monday, reaching $61.04. 495,466 shares of the company traded hands, compared to its average volume of 977,910. The firm has a fifty day simple moving average of $57.95 and a 200 day simple moving average of $67.30. 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 has a 1-year low of $52.75 and a 1-year high of $89.85.

Insider Activity

In related news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $60.50 per share, with a total value 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. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LINE. US Bancorp DE purchased a new position in Lineage during the third quarter valued at $25,000. GAMMA Investing LLC increased its stake in shares of Lineage by 7,466.7% in the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $27,000 after purchasing an additional 448 shares in the last quarter. FIL Ltd purchased a new stake in shares of Lineage in the fourth quarter worth about $29,000. Larson Financial Group LLC bought a new position in Lineage during the third quarter valued at approximately $34,000. Finally, Quarry LP purchased a new position in Lineage during the 4th quarter valued at approximately $50,000.

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.