Royal Bank of Canada Cuts Lineage (NASDAQ:LINE) Price Target to $81.00

Lineage (NASDAQ:LINE) had its price target decreased by equities researchers at Royal Bank of Canada from $94.00 to $81.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 28.31% from the company’s current price.

LINE has been the subject of several other reports. UBS Group began coverage on shares of Lineage in a research note on Monday, August 19th. They set a “neutral” rating and a $88.00 price objective for the company. Robert W. Baird lowered their price objective on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Bank of America started coverage on shares of Lineage in a research note on Monday, August 19th. They set a “buy” rating and a $100.00 price objective for the company. Capital One Financial started coverage on shares of Lineage in a report on Monday, September 16th. They set an “overweight” rating and a $91.00 target price on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of Lineage in a report on Monday, August 19th. They set an “overweight” rating and a $93.00 target price on the stock. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.75.

Lineage Stock Down 0.0 %

LINE stock traded down $0.01 during midday trading on Wednesday, hitting $63.13. The stock had a trading volume of 298,777 shares, compared to its average volume of 1,410,666. 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 $62.65 and a 12-month high of $89.85. The business has a 50-day moving average price of $76.25.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($3.22). Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. The firm’s quarterly revenue was up .5% on a year-over-year basis. As a group, sell-side analysts expect that Lineage will post 3 EPS for the current year.

Hedge Funds Weigh In On Lineage

A number of institutional investors have recently added to or reduced their stakes in LINE. SG Americas Securities LLC acquired a new stake in shares of Lineage in the 3rd quarter valued at about $658,000. Perpetual Ltd acquired a new stake in shares of Lineage in the 3rd quarter valued at about $324,000. Renaissance Capital LLC acquired a new stake in shares of Lineage in the 3rd quarter valued at about $5,209,000. Vontobel Holding Ltd. acquired a new stake in shares of Lineage in the 3rd quarter valued at about $1,026,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Lineage in the 3rd quarter valued at about $3,582,000.

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.