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

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

Other research analysts also recently issued reports about the stock. Baird R W upgraded shares of Lineage to a “strong-buy” rating in a research note on Monday, August 19th. Robert W. Baird reduced their price target on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Morgan Stanley assumed coverage on Lineage in a research note on Monday, August 19th. They issued an “overweight” rating and a $100.00 price target for the company. Mizuho initiated coverage on Lineage in a research note on Monday, August 19th. They set a “neutral” rating and a $86.00 price objective on the stock. Finally, Capital One Financial initiated coverage on Lineage in a report on Monday, September 16th. They set an “overweight” rating and a $91.00 target price on the stock. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.75.

Lineage Stock Up 0.6 %

Shares of NASDAQ LINE opened at $63.53 on Thursday. Lineage has a 1 year low of $62.65 and a 1 year high of $89.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. The stock’s 50-day simple moving average is $75.90.

Lineage (NASDAQ:LINE) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($3.22). The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. Lineage’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Research analysts forecast that Lineage will post 3 earnings per share for the current fiscal year.

Lineage Dividend Announcement

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

Institutional Trading of Lineage

A number of large investors have recently modified their holdings of LINE. US Bancorp DE bought a new position in Lineage in the 3rd quarter worth about $25,000. Larson Financial Group LLC bought a new position in Lineage in the 3rd quarter worth approximately $34,000. Spirit of America Management Corp NY bought a new position in Lineage in the 3rd quarter worth approximately $165,000. Stifel Financial Corp acquired a new stake in Lineage in the 3rd quarter valued at approximately $211,000. Finally, MetLife Investment Management LLC bought a new stake in Lineage during the 3rd quarter valued at $226,000.

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.