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

Lineage (NASDAQ:LINE) had its price target decreased by analysts at Citigroup from $64.00 to $49.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 12.26% from the company’s current price.

LINE has been the topic of a number of other research reports. Scotiabank cut their target price on shares of Lineage from $56.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 15th. Piper Sandler dropped their price objective on shares of Lineage from $75.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Morgan Stanley dropped their price objective on shares of Lineage from $80.00 to $75.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 1st. Barclays started coverage on shares of Lineage in a research note on Wednesday, April 9th. They set an “overweight” rating and a $59.00 price objective on the stock. Finally, UBS Group dropped their price objective on shares of Lineage from $62.00 to $49.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lineage presently has a consensus rating of “Hold” and an average price target of $65.55.

Lineage Stock Performance

Shares of LINE stock opened at $43.65 on Thursday. Lineage has a 12 month low of $41.88 and a 12 month high of $89.85. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. The firm has a market capitalization of $9.98 billion and a P/E ratio of -13.56. The company’s fifty day moving average price is $48.52 and its two-hundred day moving average price is $55.23.

Lineage (NASDAQ:LINE) last issued its earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, research analysts anticipate that Lineage will post 2.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lineage news, Chairman Adam Matthew Schwartz Forste bought 10,949 shares of Lineage stock in a transaction that occurred on Thursday, May 8th. The stock was purchased at an average cost of $44.93 per share, for a total transaction of $491,938.57. Following the completion of the acquisition, the chairman now owns 35,266 shares of the company’s stock, valued at approximately $1,584,501.38. This represents a 45.03% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sudarsan V. Thattai purchased 4,420 shares of Lineage stock in a transaction that occurred on Monday, May 5th. The stock was purchased at an average price of $45.23 per share, with a total value of $199,916.60. Following the transaction, the insider now owns 4,420 shares in the company, valued at $199,916.60. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 26,869 shares of company stock worth $1,194,980. Corporate insiders own 71.90% of the company’s stock.

Institutional Investors Weigh In On Lineage

Several hedge funds have recently made changes to their positions in the company. Strs Ohio purchased a new stake in shares of Lineage in the 1st quarter valued at approximately $5,722,000. Optimize Financial Inc lifted its position in shares of Lineage by 37.7% in the 1st quarter. Optimize Financial Inc now owns 7,758 shares of the company’s stock valued at $455,000 after acquiring an additional 2,125 shares in the last quarter. Woodline Partners LP lifted its position in shares of Lineage by 0.4% in the 1st quarter. Woodline Partners LP now owns 312,027 shares of the company’s stock valued at $18,294,000 after acquiring an additional 1,128 shares in the last quarter. Needham Investment Management LLC lifted its position in shares of Lineage by 21.7% in the 1st quarter. Needham Investment Management LLC now owns 14,000 shares of the company’s stock valued at $821,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Lineage by 197.0% in the 1st quarter. Millennium Management LLC now owns 288,518 shares of the company’s stock valued at $16,916,000 after acquiring an additional 191,362 shares in the last quarter.

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.