Citigroup Begins Coverage on Lineage (NASDAQ:LINE)

Equities researchers at Citigroup initiated coverage on shares of Lineage (NASDAQ:LINE) in a research note issued on Friday, Marketbeat Ratings reports. The firm set a “neutral” rating and a $64.00 price target on the stock. Citigroup’s price target points to a potential upside of 8.51% from the stock’s current price.

Several other research firms also recently weighed in on LINE. Piper Sandler dropped their target price on shares of Lineage from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada dropped their price objective on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. JPMorgan Chase & Co. lowered Lineage from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $78.00 to $75.00 in a research note on Friday, December 20th. The Goldman Sachs Group dropped their price target on Lineage from $89.00 to $77.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Finally, Robert W. Baird reduced their price objective on Lineage from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $81.06.

Lineage Stock Performance

Shares of LINE stock opened at $58.98 on Friday. Lineage has a fifty-two week low of $52.75 and a fifty-two week 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 $58.57 and its 200-day simple moving average is $64.86.

Insider Transactions at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average cost of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the transaction, the chairman now owns 24,317 shares of the company’s stock, valued at approximately $1,471,178.50. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.40% of the company’s stock.

Institutional Trading of Lineage

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Lineage during the 4th quarter worth $681,572,000. Vanguard Group Inc. increased its holdings in Lineage by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company’s stock valued at $562,003,000 after buying an additional 408,526 shares during the last quarter. D1 Capital Partners L.P. raised its stake in Lineage by 257.5% in the fourth quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company’s stock valued at $219,848,000 after buying an additional 2,703,598 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Lineage during the 3rd quarter worth about $265,895,000. Finally, Janus Henderson Group PLC boosted its position in shares of Lineage by 92.1% during the 4th quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company’s stock worth $189,380,000 after acquiring an additional 1,550,478 shares in the last quarter.

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.