Lineage (NASDAQ:LINE) Hits New 52-Week Low at $80.03

Lineage, Inc. (NASDAQ:LINE)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $80.03 and last traded at $80.81, with a volume of 139895 shares traded. The stock had previously closed at $81.87.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Baird R W upgraded Lineage to a “strong-buy” rating in a report on Monday, August 19th. UBS Group began coverage on shares of Lineage in a research report on Monday, August 19th. They issued a “neutral” rating and a $88.00 price target on the stock. Scotiabank decreased their price objective on shares of Lineage from $95.00 to $94.00 and set a “sector outperform” rating for the company in a report on Monday, August 26th. Bank of America assumed coverage on shares of Lineage in a report on Monday, August 19th. They issued a “buy” rating and a $100.00 target price on the stock. Finally, Morgan Stanley initiated coverage on shares of Lineage in a report on Monday, August 19th. They set an “overweight” rating and a $100.00 price target for the company. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.87.

Lineage Stock Up 0.5 %

The stock has a market capitalization of $18.74 billion and a P/E ratio of -5.99.

Insider Transactions at Lineage

In other Lineage news, insider Jeffrey Alvarez Rivera bought 600 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average price of $78.00 per share, with a total value of $46,800.00. Following the completion of the purchase, the insider now directly owns 5,406 shares in the company, valued at approximately $421,668. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Robert Crisci bought 10,000 shares of Lineage stock in a transaction dated Friday, July 26th. The shares were bought at an average price of $78.00 per share, for a total transaction of $780,000.00. Following the purchase, the chief financial officer now owns 10,000 shares of the company’s stock, valued at $780,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey Alvarez Rivera bought 600 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average price of $78.00 per share, with a total value of $46,800.00. Following the transaction, the insider now directly owns 5,406 shares in the company, valued at $421,668. The disclosure for this purchase can be found here. In the last three months, insiders acquired 12,150 shares of company stock valued at $947,700. Company insiders own 1.40% of the company’s stock.

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.