The Goldman Sachs Group Lowers Lineage (NASDAQ:LINE) Price Target to $89.00

Lineage (NASDAQ:LINE) had its price objective trimmed by The Goldman Sachs Group from $104.00 to $89.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages also recently weighed in on LINE. Capital One Financial initiated coverage on Lineage in a research report on Monday, September 16th. They set an “overweight” rating and a $91.00 price target on the stock. Royal Bank of Canada reduced their price objective on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating on the stock in a research note on Wednesday. Piper Sandler assumed coverage on shares of Lineage in a report on Monday, August 19th. They set an “overweight” rating and a $102.00 price objective for the company. UBS Group started coverage on shares of Lineage in a research report on Monday, August 19th. They set a “neutral” rating and a $88.00 price target on the stock. Finally, KeyCorp assumed coverage on shares of Lineage in a research note on Monday, August 19th. They issued an “overweight” rating and a $92.00 price objective for the company. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lineage currently has an average rating of “Moderate Buy” and an average target price of $90.75.

Lineage Price Performance

NASDAQ:LINE traded up $0.39 during mid-day trading on Thursday, reaching $63.53. 1,775,270 shares of the company’s stock were exchanged, compared to its average volume of 1,429,110. The business’s fifty day moving average is $76.25. Lineage has a one year low of $62.65 and a one year 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.

Lineage (NASDAQ:LINE) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company posted $0.75 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis. As a group, sell-side analysts predict that Lineage will post 3 earnings per share for the current year.

Lineage Announces Dividend

The company also recently announced a — dividend, which was paid on Monday, October 21st. Investors of record on Monday, September 30th were given a $0.38 dividend. The ex-dividend date of this dividend was Monday, September 30th.

Institutional Investors Weigh In On Lineage

Large investors have recently added to or reduced their stakes in the business. US Bancorp DE bought a new stake in Lineage during the 3rd quarter valued at $25,000. Larson Financial Group LLC bought a new position in Lineage in the third quarter valued at about $34,000. Spirit of America Management Corp NY purchased a new stake in shares of Lineage during the third quarter worth about $165,000. Stifel Financial Corp purchased a new position in shares of Lineage in the 3rd quarter worth approximately $211,000. Finally, MetLife Investment Management LLC bought a new stake in Lineage during the 3rd quarter valued at $226,000.

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.