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

Lineage (NASDAQ:LINE) had its target price reduced by analysts at The Goldman Sachs Group from $104.00 to $89.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 37.39% from the stock’s previous close.

LINE has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft began coverage on Lineage in a report on Monday, August 19th. They issued a “hold” rating and a $90.00 price target for the company. Mizuho began coverage on Lineage in a report on Monday, August 19th. They set a “neutral” rating and a $86.00 target price for the company. Bank of America assumed coverage on Lineage in a report on Monday, August 19th. They issued a “buy” rating and a $100.00 price target on the stock. Capital One Financial started coverage on Lineage in a research note on Monday, September 16th. They set an “overweight” rating and a $91.00 price objective for the company. Finally, Robert W. Baird cut their target price on Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.75.

Lineage Stock Down 1.3 %

Shares of NASDAQ:LINE opened at $64.78 on Thursday. The firm has a 50 day moving average price of $76.65. Lineage has a 52-week low of $64.48 and a 52-week high of $89.85. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95.

Lineage (NASDAQ:LINE) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. Lineage’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.75 EPS. Research analysts anticipate that Lineage will post 3 EPS for the current fiscal year.

Institutional Investors Weigh In On Lineage

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. acquired a new stake in shares of Lineage during the third quarter worth $176,790,000. Principal Financial Group Inc. purchased a new position in Lineage in the 3rd quarter worth about $173,115,000. Baillie Gifford & Co. acquired a new stake in Lineage during the 3rd quarter worth about $134,351,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Lineage during the 3rd quarter worth about $47,028,000. Finally, Daiwa Securities Group Inc. purchased a new stake in Lineage during the third quarter valued at about $36,466,000.

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.