Lineage (NASDAQ:LINE) Stock Rating Lowered by JPMorgan Chase & Co.

Lineage (NASDAQ:LINE) was downgraded by JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. They presently have a $50.00 target price on the stock, down from their prior target price of $55.00. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 8.01% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Morgan Stanley lowered Lineage from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $75.00 to $50.00 in a research note on Monday. Evercore ISI lowered their target price on Lineage from $68.00 to $59.00 and set an “in-line” rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company lowered their target price on Lineage from $64.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Monday, May 19th. BNP Paribas Exane downgraded Lineage from a “neutral” rating to an “underperform” rating and set a $42.00 target price on the stock. in a research report on Thursday, June 12th. Finally, Piper Sandler lowered their target price on Lineage from $75.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $62.10.

Lineage Trading Up 1.6%

Shares of LINE stock opened at $46.29 on Monday. Lineage has a 12-month low of $41.88 and a 12-month high of $89.85. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.66. The firm’s 50 day moving average is $47.34 and its 200 day moving average is $54.27. The stock has a market capitalization of $10.58 billion and a P/E ratio of -14.38.

Lineage (NASDAQ:LINE) last issued its earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Lineage had a negative net margin of 11.88% and a negative return on equity of 7.24%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. Research analysts expect that Lineage will post 2.34 earnings per share for the current year.

Insider Activity at Lineage

In related news, Chairman Kevin Patrick Marchetti purchased 11,500 shares of Lineage stock in a transaction on Tuesday, May 6th. The shares were bought at an average cost of $43.75 per share, for a total transaction of $503,125.00. Following the acquisition, the chairman now owns 27,733 shares in the company, valued at approximately $1,213,318.75. The trade was a 70.84% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sudarsan V. Thattai purchased 4,420 shares of Lineage stock in a transaction on Monday, May 5th. The stock was bought at an average price of $45.23 per share, for a total transaction of $199,916.60. Following the completion of the acquisition, the insider now owns 4,420 shares in the company, valued at $199,916.60. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 26,869 shares of company stock worth $1,194,980. 71.90% of the stock is owned by corporate insiders.

Institutional Trading of Lineage

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cbre Investment Management Listed Real Assets LLC increased its holdings in Lineage by 10.5% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 602,803 shares of the company’s stock valued at $35,306,000 after acquiring an additional 57,302 shares during the last quarter. GAMMA Investing LLC increased its holdings in Lineage by 3,141.4% in the 1st quarter. GAMMA Investing LLC now owns 14,716 shares of the company’s stock valued at $863,000 after acquiring an additional 14,262 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Lineage by 130.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,070,915 shares of the company’s stock valued at $62,723,000 after acquiring an additional 605,670 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in Lineage by 16.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 175,000 shares of the company’s stock valued at $10,250,000 after acquiring an additional 25,000 shares during the last quarter. Finally, Mariner LLC bought a new stake in Lineage in the 4th quarter valued at $548,000.

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.