Lineage (NASDAQ:LINE) Price Target Lowered to $89.00 at The Goldman Sachs Group

Lineage (NASDAQ:LINE) had its price objective decreased by The Goldman Sachs Group from $104.00 to $89.00 in a report released on Thursday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other research firms have also issued reports on LINE. JPMorgan Chase & Co. initiated coverage on shares of Lineage in a research note on Monday, August 19th. They issued an “overweight” rating and a $93.00 target price for the company. Piper Sandler assumed coverage on Lineage in a research report on Monday, August 19th. They set an “overweight” rating and a $102.00 price objective on the stock. Robert W. Baird reduced their price objective on Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Capital One Financial initiated coverage on Lineage in a research report on Monday, September 16th. They set an “overweight” rating and a $91.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Lineage in a research note on Monday, August 19th. They set a “hold” rating and a $90.00 price target on the stock. 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 company’s stock. Based on data from MarketBeat, Lineage currently has an average rating of “Moderate Buy” and an average price target of $90.75.

Lineage Price Performance

NASDAQ:LINE traded up $0.39 on Thursday, reaching $63.53. The stock had a trading volume of 1,775,270 shares, compared to its average volume of 1,429,110. Lineage has a 1-year low of $62.65 and a 1-year high of $89.85. The stock’s fifty day simple moving average is $76.25. 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 (NASDAQ:LINE) last released its quarterly earnings data 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 business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the firm earned $0.75 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities analysts anticipate that Lineage will post 3 EPS for the current fiscal year.

Lineage Dividend Announcement

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

Hedge Funds Weigh In On Lineage

A number of large investors have recently added to or reduced their stakes in LINE. Victory Capital Management Inc. acquired a new position in shares of Lineage in the third quarter worth about $176,790,000. Principal Financial Group Inc. purchased a new stake in shares of Lineage in the third quarter valued at $173,115,000. Baillie Gifford & Co. purchased a new stake in Lineage in the 3rd quarter valued at about $134,351,000. Janus Henderson Group PLC acquired a new stake in Lineage in the 3rd quarter valued at $131,875,000. Finally, State Street Corp bought a new position in Lineage during the 3rd quarter worth approximately $113,483,000.

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.