Royal Bank of Canada Lowers Lineage (NASDAQ:LINE) Price Target to $81.00

Lineage (NASDAQ:LINE) had its target price decreased by equities research analysts at Royal Bank of Canada from $94.00 to $81.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 28.31% from the stock’s current price.

A number of other equities research analysts also recently commented on the stock. UBS Group initiated coverage on shares of Lineage in a research report on Monday, August 19th. They issued a “neutral” rating and a $88.00 price objective for the company. Capital One Financial initiated coverage on shares of Lineage in a research report on Monday, September 16th. They issued an “overweight” rating and a $91.00 price objective for the company. The Goldman Sachs Group reduced their price objective on shares of Lineage from $105.00 to $104.00 and set a “buy” rating for the company in a research report on Friday, September 13th. KeyCorp initiated coverage on shares of Lineage in a research report on Monday, August 19th. They issued an “overweight” rating and a $92.00 price objective for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of Lineage in a research report on Monday, August 19th. They issued an “overweight” rating and a $93.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $90.75.

Lineage Stock Performance

Shares of NASDAQ LINE traded down $0.01 during midday trading on Wednesday, reaching $63.13. 298,777 shares of the company were exchanged, compared to its average volume of 1,410,666. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Lineage has a 1 year low of $62.65 and a 1 year high of $89.85. The company’s fifty day moving average is $76.25.

Lineage (NASDAQ:LINE) last released 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). Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the business earned $0.75 EPS. The business’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities research analysts expect that Lineage will post 3 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. US Bancorp DE acquired a new position in shares of Lineage during the 3rd quarter worth approximately $25,000. Larson Financial Group LLC purchased a new stake in Lineage in the 3rd quarter worth approximately $34,000. Spirit of America Management Corp NY purchased a new stake in Lineage in the 3rd quarter worth approximately $165,000. MetLife Investment Management LLC purchased a new stake in Lineage in the 3rd quarter worth approximately $226,000. Finally, Amalgamated Bank purchased a new stake in Lineage in the 3rd quarter worth approximately $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.