BNP Paribas Begins Coverage on Lineage (NASDAQ:LINE)

Stock analysts at BNP Paribas assumed coverage on shares of Lineage (NASDAQ:LINE) in a report released on Tuesday, MarketBeat.com reports. The brokerage set a “neutral” rating and a $61.00 price target on the stock. BNP Paribas’ price objective would indicate a potential upside of 12.24% from the stock’s current price.

Other research analysts have also issued reports about the company. Evercore ISI decreased their target price on Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Scotiabank decreased their price objective on shares of Lineage from $94.00 to $76.00 and set a “sector outperform” rating on the stock in a report on Tuesday, December 10th. JPMorgan Chase & Co. cut shares of Lineage from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $78.00 to $75.00 in a research note on Friday, December 20th. Capital One Financial started coverage on shares of Lineage in a research note on Monday, September 16th. They issued an “overweight” rating and a $91.00 price target on the stock. Finally, Mizuho cut their price objective on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $85.76.

Lineage Stock Down 1.9 %

NASDAQ LINE opened at $54.35 on Tuesday. The stock’s fifty day moving average price is $61.47. Lineage has a 1 year low of $52.75 and a 1 year high of $89.85. 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 (NASDAQ:LINE) last issued its earnings results 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). The firm had revenue of $1.34 billion during 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%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the business posted $0.75 earnings per share. On average, analysts anticipate that Lineage will post 3 earnings per share for the current year.

Institutional Investors Weigh In On Lineage

Several institutional investors and hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp acquired a new position in shares of Lineage in the 3rd quarter valued at approximately $833,000. TOMS Capital Investment Management LP bought a new position in Lineage in the third quarter valued at approximately $15,676,000. Sequoia Financial Advisors LLC acquired a new position in Lineage during the third quarter valued at approximately $23,893,000. Nicola Wealth Management LTD. bought a new stake in Lineage during the third quarter worth $658,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Lineage in the 3rd quarter valued at $173,115,000.

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.