Lineage (NASDAQ:LINE) Earns Neutral Rating from Analysts at Citigroup

Stock analysts at Citigroup began coverage on shares of Lineage (NASDAQ:LINE) in a research report issued to clients and investors on Friday. The brokerage set a “neutral” rating and a $64.00 price target on the stock. Citigroup’s price objective suggests a potential upside of 6.88% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. Mizuho lowered their price objective on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Scotiabank boosted their price target on Lineage from $73.00 to $74.00 and gave the company a “sector outperform” rating in a research report on Monday, March 10th. Royal Bank of Canada cut their price objective on 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 price objective for the company from $78.00 to $75.00 in a research note on Friday, December 20th. Finally, Robert W. Baird dropped their target price on shares of Lineage from $76.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.06.

Lineage Price Performance

LINE opened at $59.88 on Friday. Lineage has a 1 year low of $52.75 and a 1 year high of $89.85. The company’s 50 day simple moving average is $58.55 and its 200 day simple moving average is $65.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95.

Insider Activity at Lineage

In related news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost 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. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LINE. GAMMA Investing LLC lifted its position in shares of Lineage by 7,466.7% during the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $27,000 after purchasing an additional 448 shares during the last quarter. FIL Ltd bought a new position in Lineage during the 4th quarter worth approximately $29,000. Larson Financial Group LLC acquired a new position in shares of Lineage in the 3rd quarter worth approximately $34,000. Quarry LP bought a new stake in shares of Lineage in the 4th quarter valued at approximately $50,000. Finally, Stifel Financial Corp raised its position 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 acquiring an additional 821 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.