The Goldman Sachs Group Has Lowered Expectations for Lineage (NASDAQ:LINE) Stock Price

Lineage (NASDAQ:LINE) had its target price trimmed by The Goldman Sachs Group from $104.00 to $89.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Truist Financial started coverage on shares of Lineage in a research report on Monday, August 19th. They set a “buy” rating and a $94.00 target price on the stock. KeyCorp assumed coverage on Lineage in a research note on Monday, August 19th. They set an “overweight” rating and a $92.00 price target on the stock. Robert W. Baird lowered their price objective on Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Royal Bank of Canada reduced their target price on Lineage from $94.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Finally, Baird R W upgraded Lineage to a “strong-buy” rating in a report on Monday, August 19th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $90.75.

Lineage Price Performance

NASDAQ LINE opened at $63.53 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Lineage has a fifty-two week low of $62.65 and a fifty-two week high of $89.85. The business has a fifty day moving average of $75.90.

Lineage (NASDAQ:LINE) last announced its earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($3.22). Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the firm posted $0.75 EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Sell-side analysts forecast that Lineage will post 3 EPS for the current year.

Lineage Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, September 30th were given a $0.38 dividend. The ex-dividend date of this dividend was Monday, September 30th.

Hedge Funds Weigh In On Lineage

A number of hedge funds have recently made changes to their positions in LINE. Van ECK Associates Corp acquired a new stake in Lineage in the 3rd quarter valued at $833,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Lineage in the third quarter worth about $23,893,000. Nicola Wealth Management LTD. acquired a new stake in shares of Lineage in the third quarter valued at about $658,000. abrdn plc purchased a new stake in shares of Lineage during the 3rd quarter valued at about $1,000,000. Finally, Baillie Gifford & Co. purchased a new stake in shares of Lineage during the 3rd quarter valued at about $134,351,000.

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.