Lineage (NASDAQ:LINE – Get Free Report) was downgraded by analysts at BNP Paribas from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday,Zacks.com reports.
LINE has been the subject of several other research reports. 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 target for the company. Morgan Stanley cut their price objective on shares of Lineage from $80.00 to $75.00 and set an “overweight” rating for the company in a report on Tuesday, April 1st. The Goldman Sachs Group cut their price target on shares of Lineage from $74.00 to $63.00 and set a “buy” rating for the company in a report on Wednesday, May 14th. Evercore ISI dropped their price objective on shares of Lineage from $68.00 to $59.00 and set an “in-line” rating for the company in a report on Thursday, May 1st. Finally, Wells Fargo & Company decreased their target price on shares of Lineage from $64.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lineage presently has a consensus rating of “Hold” and a consensus target price of $65.55.
Check Out Our Latest Research Report on LINE
Lineage Stock Performance
Lineage (NASDAQ:LINE – Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 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 analysts’ expectations of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, analysts predict that Lineage will post 2.34 EPS for the current year.
Insider Activity at Lineage
In other Lineage news, insider Sudarsan V. Thattai acquired 4,420 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were acquired at an average price of $45.23 per share, with a total value of $199,916.60. Following the completion of the purchase, the insider now directly owns 4,420 shares of the company’s stock, valued at approximately $199,916.60. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Adam Matthew Schwartz Forste acquired 10,949 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average cost of $44.93 per share, for a total transaction of $491,938.57. Following the purchase, the chairman now directly owns 35,266 shares of the company’s stock, valued at $1,584,501.38. This represents a 45.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 26,869 shares of company stock worth $1,194,980 over the last 90 days. 71.90% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio bought a new position in Lineage during the first quarter valued at approximately $5,722,000. Optimize Financial Inc lifted its position in Lineage by 37.7% during the first quarter. Optimize Financial Inc now owns 7,758 shares of the company’s stock valued at $455,000 after purchasing an additional 2,125 shares during the period. Woodline Partners LP lifted its position in Lineage by 0.4% during the first quarter. Woodline Partners LP now owns 312,027 shares of the company’s stock valued at $18,294,000 after purchasing an additional 1,128 shares during the period. Needham Investment Management LLC lifted its position in Lineage by 21.7% during the first quarter. Needham Investment Management LLC now owns 14,000 shares of the company’s stock valued at $821,000 after purchasing an additional 2,500 shares during the period. Finally, Millennium Management LLC lifted its position in Lineage by 197.0% during the first quarter. Millennium Management LLC now owns 288,518 shares of the company’s stock valued at $16,916,000 after purchasing an additional 191,362 shares during the period.
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.
Read More
- Five stocks we like better than Lineage
- REIT Stocks – Best REIT Stocks to Add to Your Portfolio Today
- IBM Up 10 Days in a Row: What’s Driving the Winning Streak?
- 5 discounted opportunities for dividend growth investors
- Upstart Stock’s Bull Case Just Got a Lot Stronger
- Ride Out The Recession With These Dividend Kings
- Higher Gulf Oil Output Puts These Energy Names in Play
Receive News & Ratings for Lineage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lineage and related companies with MarketBeat.com's FREE daily email newsletter.