The Goldman Sachs Group Has Lowered Expectations for Lineage (NASDAQ:LINE) Stock Price

Lineage (NASDAQ:LINE) had its price target decreased by investment analysts at The Goldman Sachs Group from $89.00 to $77.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 32.34% from the stock’s previous close.

Several other research firms also recently weighed in on LINE. Evercore ISI decreased their price target on shares of Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. BNP Paribas began coverage on Lineage in a report on Tuesday. They issued a “neutral” rating and a $61.00 price target for the company. Mizuho lowered their price objective on Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lowered Lineage from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $78.00 to $75.00 in a report on Friday, December 20th. Finally, Robert W. Baird reduced their target price on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $85.06.

Lineage Price Performance

NASDAQ LINE traded up $0.77 on Friday, hitting $58.18. The company had a trading volume of 103,971 shares, compared to its average volume of 763,752. 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 has a 12-month low of $52.75 and a 12-month high of $89.85. The company’s fifty day moving average price is $60.99.

Lineage (NASDAQ:LINE) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) EPS 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 firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the firm posted $0.75 earnings per share. Lineage’s quarterly revenue was up .5% on a year-over-year basis. As a group, research analysts predict that Lineage will post 2.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP acquired a new stake in shares of Lineage in the 3rd quarter valued at approximately $265,895,000. Victory Capital Management Inc. purchased a new stake in Lineage during the third quarter worth about $176,790,000. Principal Financial Group Inc. acquired a new stake in shares of Lineage during the 3rd quarter valued at approximately $173,115,000. Baillie Gifford & Co. acquired a new position in Lineage during the third quarter worth $134,351,000. Finally, Janus Henderson Group PLC purchased a new stake in Lineage during the third 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.