Lineage (NASDAQ:LINE) Given New $81.00 Price Target at Royal Bank of Canada

Lineage (NASDAQ:LINE) had its price target trimmed by Royal Bank of Canada from $94.00 to $81.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

LINE has been the topic of a number of other research reports. Morgan Stanley assumed coverage on shares of Lineage in a report on Monday, August 19th. They issued an “overweight” rating and a $100.00 price target on the stock. The Goldman Sachs Group cut their price target on Lineage from $105.00 to $104.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Evercore ISI lowered their price objective on Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Truist Financial started coverage on shares of Lineage in a research report on Monday, August 19th. They set a “buy” rating and a $94.00 target price for the company. Finally, Capital One Financial initiated coverage on shares of Lineage in a research note on Monday, September 16th. They issued an “overweight” rating and a $91.00 target price for the company. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $90.75.

Lineage Stock Performance

Shares of NASDAQ:LINE opened at $63.53 on Wednesday. Lineage has a 1 year low of $62.65 and a 1 year high of $89.85. The company has a fifty day simple moving average of $75.90. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Lineage (NASDAQ:LINE) last posted its quarterly earnings results 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). The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. Lineage’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS. As a group, sell-side analysts anticipate that Lineage will post 3 EPS for the current fiscal year.

Lineage Announces Dividend

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

Institutional Trading of Lineage

Large investors have recently modified their holdings of the business. Wellington Management Group LLP purchased a new stake in Lineage in the third quarter valued at approximately $265,895,000. Victory Capital Management Inc. bought a new position in shares of Lineage in the 3rd quarter worth $176,790,000. Principal Financial Group Inc. purchased a new stake in shares of Lineage during the 3rd quarter valued at $173,115,000. Baillie Gifford & Co. bought a new stake in shares of Lineage during the 3rd quarter worth $134,351,000. Finally, Janus Henderson Group PLC bought a new stake in shares of Lineage during the 3rd quarter worth $131,875,000.

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.