Lineage, Inc. (NASDAQ:LINE) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Lineage, Inc. (NASDAQ:LINE) have been assigned an average recommendation of “Moderate Buy” from the eighteen brokerages that are covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $82.06.

LINE has been the subject of a number of recent analyst reports. Scotiabank upped their price target on shares of Lineage from $73.00 to $74.00 and gave the stock a “sector outperform” rating in a report on Monday. Piper Sandler reduced their target price on Lineage from $90.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. BNP Paribas assumed coverage on Lineage in a research note on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 price target on the stock. Royal Bank of Canada dropped their price objective on Lineage from $81.00 to $74.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. cut Lineage from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $78.00 to $75.00 in a research report on Friday, December 20th.

Lineage Trading Down 1.7 %

LINE opened at $56.78 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Lineage has a twelve month low of $52.75 and a twelve month high of $89.85. The company has a 50-day simple moving average of $57.97 and a 200 day simple moving average of $66.88.

Insider Transactions at Lineage

In other news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the transaction, the chairman now directly owns 24,317 shares in the company, valued at $1,471,178.50. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lineage

Hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE bought a new position in shares of Lineage in the 3rd quarter worth about $25,000. Larson Financial Group LLC bought a new stake in Lineage in the third quarter worth approximately $34,000. GAMMA Investing LLC lifted its stake 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 buying an additional 448 shares during the period. FIL Ltd bought a new position in shares of Lineage during the 4th quarter worth approximately $29,000. Finally, Quarry LP acquired a new stake in shares of Lineage during the 4th quarter worth approximately $50,000.

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.