The Goldman Sachs Group Has Lowered Expectations for Lineage (NASDAQ:LINE) Stock Price

Lineage (NASDAQ:LINE) had its target price lowered by stock analysts at The Goldman Sachs Group from $89.00 to $77.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 32.34% from the stock’s current price.

Several other equities research analysts have also recently issued reports on LINE. BNP Paribas initiated coverage on shares of Lineage in a research report on Tuesday. They issued a “neutral” rating and a $61.00 target price on the stock. Evercore ISI lowered their target price on Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Robert W. Baird cut their price target on Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Scotiabank lowered their price objective on Lineage from $94.00 to $76.00 and set a “sector outperform” rating for the company in a research note on Tuesday, December 10th. Finally, Mizuho reduced their target price on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Lineage currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.06.

Lineage Price Performance

LINE stock traded up $0.77 on Friday, reaching $58.18. The company had a trading volume of 103,971 shares, compared to its average volume of 763,752. 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 firm’s fifty day moving average price is $60.99. Lineage has a 1 year low of $52.75 and a 1 year high of $89.85.

Lineage (NASDAQ:LINE) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). The company had revenue of $1.34 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 firm’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 EPS. On average, sell-side analysts expect that Lineage will post 2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in Lineage in the third quarter valued at $658,000. Perpetual Ltd acquired a new stake in shares of Lineage in the third quarter valued at approximately $324,000. Renaissance Capital LLC acquired a new position in shares of Lineage during the third quarter worth approximately $5,209,000. Vontobel Holding Ltd. bought a new position in Lineage in the 3rd quarter worth approximately $1,026,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Lineage during the 3rd quarter valued at $3,582,000.

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.