Lineage’s (LINE) “Sector Perform” Rating Reaffirmed at Scotiabank

Lineage (NASDAQ:LINE)‘s stock had its “sector perform” rating reissued by stock analysts at Scotiabank in a note issued to investors on Thursday, MarketBeat reports. They presently have a $56.00 price objective on the stock, down from their previous price objective of $74.00. Scotiabank’s price target suggests a potential upside of 4.28% from the stock’s previous close.

Several other brokerages also recently issued reports on LINE. The Goldman Sachs Group lowered their price objective on shares of Lineage from $89.00 to $77.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Royal Bank of Canada lowered their price target on Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Piper Sandler decreased their price objective on Lineage from $90.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Barclays assumed coverage on Lineage in a research note on Wednesday. They issued an “overweight” rating and a $59.00 target price on the stock. Finally, Citigroup began coverage on Lineage in a report on Friday, March 28th. They set a “neutral” rating and a $64.00 price target for the company. Nine analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.63.

Lineage Stock Up 2.8 %

LINE stock opened at $53.70 on Thursday. The business has a 50 day simple moving average of $57.27 and a 200-day simple moving average of $62.69. Lineage has a twelve month low of $46.63 and a twelve month 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.

Insiders Place Their Bets

In other Lineage news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of Lineage stock in a transaction on Friday, February 28th. The shares were bought at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the acquisition, the chairman now directly owns 24,317 shares of the company’s stock, valued at approximately $1,471,178.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LINE. GAMMA Investing LLC increased its stake in shares of Lineage by 7,466.7% during the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after acquiring an additional 448 shares during the last quarter. FIL Ltd acquired a new position in Lineage during the fourth quarter worth approximately $29,000. Quarry LP purchased a new position in Lineage during the fourth quarter worth approximately $50,000. Parallel Advisors LLC acquired a new position in shares of Lineage in the 1st quarter valued at $151,000. Finally, Stifel Financial Corp grew its stake in shares of Lineage by 30.5% during the 4th quarter. Stifel Financial Corp now owns 3,509 shares of the company’s stock valued at $206,000 after buying an additional 821 shares during the period.

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.