Evercore ISI Issues Pessimistic Forecast for Lineage (NASDAQ:LINE) Stock Price

Lineage (NASDAQ:LINE) had its price objective reduced by Evercore ISI from $88.00 to $78.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s price objective points to a potential upside of 15.04% from the stock’s previous close.

LINE has been the topic of a number of other research reports. Baird R W upgraded shares of Lineage to a “strong-buy” rating in a research report on Monday, August 19th. Bank of America began coverage on shares of Lineage in a research report on Monday, August 19th. They set a “buy” rating and a $100.00 price objective on the stock. Mizuho started coverage on shares of Lineage in a research report on Monday, August 19th. They set a “neutral” rating and a $86.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $94.00 price target on shares of Lineage in a research report on Tuesday, September 3rd. Finally, UBS Group started coverage on shares of Lineage in a research report on Monday, August 19th. They issued a “neutral” rating and a $88.00 price target on the stock. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Lineage has an average rating of “Moderate Buy” and a consensus target price of $92.88.

Lineage Stock Performance

Shares of Lineage stock opened at $67.80 on Thursday. The firm’s 50 day moving average is $78.32. Lineage has a twelve month low of $67.53 and a twelve month high of $89.85. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.95 and a current ratio of 1.10.

Hedge Funds Weigh In On Lineage

Several institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. purchased a new position in shares of Lineage in the 3rd quarter worth $176,790,000. Principal Financial Group Inc. purchased a new position in shares of Lineage in the 3rd quarter worth $173,115,000. Baillie Gifford & Co. purchased a new position in shares of Lineage in the 3rd quarter worth $134,351,000. Seven Grand Managers LLC purchased a new position in shares of Lineage in the 3rd quarter worth $24,298,000. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Lineage in the 3rd quarter worth $23,893,000.

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.