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

Lineage (NASDAQ:LINE) had its price target cut by equities research analysts at The Goldman Sachs Group from $104.00 to $89.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 37.39% from the company’s current price.

LINE has been the subject of a number of other reports. Royal Bank of Canada reduced their price target on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a research report on Wednesday. Robert W. Baird reduced their price objective on Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Wells Fargo & Company upped their target price on Lineage from $86.00 to $89.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Capital One Financial initiated coverage on Lineage in a research report on Monday, September 16th. They issued an “overweight” rating and a $91.00 price target for the company. Finally, Scotiabank lowered their price objective on shares of Lineage from $95.00 to $94.00 and set a “sector outperform” rating on the stock in a research note on Monday, August 26th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.75.

Lineage Trading Down 1.3 %

NASDAQ:LINE opened at $64.78 on Thursday. Lineage has a 1 year low of $64.48 and a 1 year high of $89.85. 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 business has a fifty day simple moving average of $76.65.

Lineage (NASDAQ:LINE) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). The company had revenue of $1.34 billion during 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 business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 EPS. Equities analysts anticipate that Lineage will post 3 earnings per share for the current year.

Institutional Trading of Lineage

A number of hedge funds have recently added to or reduced their stakes in LINE. US Bancorp DE acquired a new position in shares of Lineage during the 3rd quarter valued at about $25,000. Larson Financial Group LLC acquired a new position in Lineage during the third quarter worth approximately $34,000. Spirit of America Management Corp NY purchased a new position in Lineage during the third quarter worth approximately $165,000. MetLife Investment Management LLC acquired a new position in shares of Lineage in the 3rd quarter valued at $226,000. Finally, Amalgamated Bank purchased a new stake in shares of Lineage during the 3rd quarter valued at $255,000.

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.