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

Lineage (NASDAQ:LINE) had its price target dropped by equities research analysts at The Goldman Sachs Group from $89.00 to $77.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 32.35% from the stock’s previous close.

A number of other brokerages also recently commented on LINE. Mizuho dropped their price objective on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Evercore ISI cut their price target 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. Scotiabank lowered their price objective on Lineage from $94.00 to $76.00 and set a “sector outperform” rating for the company in a research report on Tuesday, December 10th. Royal Bank of Canada cut their target price on Lineage from $94.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Finally, BNP Paribas started coverage on Lineage in a report on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 price target for the company. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.06.

Lineage Stock Up 1.3 %

Shares of LINE opened at $58.18 on Friday. Lineage has a fifty-two week low of $52.75 and a fifty-two week high of $89.85. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The business’s 50 day simple moving average is $60.80.

Lineage (NASDAQ:LINE) last posted 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). Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. 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 company posted $0.75 EPS. The firm’s revenue was up .5% compared to the same quarter last year. On average, equities research analysts forecast that Lineage will post 2.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Lineage

A number of hedge funds have recently added to or reduced their stakes in LINE. US Bancorp DE purchased a new position in shares of Lineage during the 3rd quarter worth approximately $25,000. Larson Financial Group LLC acquired a new position in Lineage during the third quarter worth $34,000. GAMMA Investing LLC lifted its holdings in Lineage by 7,466.7% in the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after acquiring an additional 448 shares during the period. Spirit of America Management Corp NY purchased a new stake in shares of Lineage during the 3rd quarter worth $165,000. Finally, Stifel Financial Corp acquired a new position in shares of Lineage during the 3rd quarter worth $211,000.

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.