Evercore ISI Cuts Lineage (NASDAQ:LINE) Price Target to $78.00

Lineage (NASDAQ:LINE) had its price objective lowered by Evercore ISI from $88.00 to $78.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has an in-line rating on the stock.

A number of other research firms have also recently commented on LINE. KeyCorp assumed coverage on shares of Lineage in a report on Monday, August 19th. They issued an “overweight” rating and a $92.00 price target for the company. Truist Financial assumed coverage on Lineage in a research report on Monday, August 19th. They set a “buy” rating and a $94.00 target price for the company. Capital One Financial assumed coverage on shares of Lineage in a report on Monday, September 16th. They issued an “overweight” rating and a $91.00 price target on the stock. Bank of America initiated coverage on shares of Lineage in a research report on Monday, August 19th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Scotiabank cut their price objective on shares of Lineage from $95.00 to $94.00 and set a “sector outperform” rating for the company in a report on Monday, August 26th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $92.50.

Lineage Price Performance

NASDAQ:LINE traded down $0.76 on Thursday, hitting $67.32. The company had a trading volume of 1,265,480 shares, compared to its average volume of 723,068. The company’s 50 day moving average price is $77.68. Lineage has a 52 week low of $66.94 and a 52 week high of $89.85. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.10 and a quick ratio of 0.95.

Lineage Dividend Announcement

The company also recently declared a — dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, September 30th were issued a $0.38 dividend. The ex-dividend date was Monday, September 30th.

Institutional Investors Weigh In On Lineage

A number of large investors have recently modified their holdings of the stock. Victory Capital Management Inc. bought a new stake in shares of Lineage during the 3rd quarter valued at about $176,790,000. Principal Financial Group Inc. bought a new stake in shares of Lineage during the 3rd quarter valued at about $173,115,000. Baillie Gifford & Co. bought a new stake in shares of Lineage during the 3rd quarter valued at about $134,351,000. Seven Grand Managers LLC bought a new stake in shares of Lineage during the 3rd quarter valued at about $24,298,000. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Lineage during the 3rd quarter valued at about $23,893,000.

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.