Lineage (NASDAQ:LINE) Coverage Initiated by Analysts at Citigroup

Equities researchers at Citigroup started coverage on shares of Lineage (NASDAQ:LINE) in a research report issued on Friday. The firm set a “neutral” rating and a $64.00 price target on the stock. Citigroup’s price target indicates a potential upside of 6.88% from the stock’s current price.

Several other brokerages also recently issued reports on LINE. Royal Bank of Canada cut their price target on Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. The Goldman Sachs Group cut their target price on Lineage from $89.00 to $77.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Mizuho lowered their price target on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Scotiabank increased their price objective on shares of Lineage from $73.00 to $74.00 and gave the stock a “sector outperform” rating in a report on Monday, March 10th. Finally, JPMorgan Chase & Co. lowered shares of Lineage from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $78.00 to $75.00 in a research note on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.06.

Lineage Trading Up 0.4 %

Shares of NASDAQ LINE opened at $59.88 on Friday. 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’s 50-day moving average price is $58.55 and its two-hundred day moving average price is $65.15. Lineage has a 52-week low of $52.75 and a 52-week high of $89.85.

Insider Activity

In other Lineage news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the purchase, the chairman now directly owns 24,317 shares of the company’s stock, valued at approximately $1,471,178.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.40% of the company’s stock.

Institutional Trading of Lineage

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Lineage in the fourth quarter worth approximately $681,572,000. Vanguard Group Inc. grew its holdings in shares of Lineage by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company’s stock worth $562,003,000 after acquiring an additional 408,526 shares during the last quarter. D1 Capital Partners L.P. grew its holdings in shares of Lineage by 257.5% in the 4th quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company’s stock worth $219,848,000 after acquiring an additional 2,703,598 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Lineage during the third quarter worth $265,895,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Lineage by 92.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company’s stock valued at $189,380,000 after purchasing an additional 1,550,478 shares during 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.