Royal Bank of Canada Lowers Lineage Price Target to $74.00

Lineage (NASDAQ:LINE - Get Free Report) saw its target price adjusted down by the Royal Bank of Canada from $81.00 to $74.00 in a report issued on Thursday. According to the brokerage, they currently maintain an "outperform" rating for the company's stock. This newly set target price indicates a potential upside of 21.30% compared to the stock's current price.

Other research firms have also recently issued their opinions on Lineage. For instance, BNP Paribas began covering Lineage with a "neutral" rating, assigning a target price of $61.00 in a report on January 14th. Additionally, Evercore ISI reduced their target price for Lineage from $88.00 to $78.00 while maintaining an "in-line" rating in a report published on November 7th. On December 20th, JPMorgan Chase & Co. lowered its rating from "overweight" to "neutral" and adjusted its price target from $78.00 to $75.00. Robert W. Baird also decreased its target from $76.00 to $70.00, but still set an "outperform" rating on February 27th. Similarly, Scotiabank cut their target price from $76.00 to $73.00 while retaining a "sector outperform" rating on February 3rd. Currently, seven investment analysts rate the stock as a hold, ten have a buy rating, and one analyst issued a strong buy rating for it. According to MarketBeat data, the average rating for the company stands at "Moderate Buy" with a consensus target price of $82.00.

Lineage Stock Trading Performance

On Thursday, shares of Lineage experienced a decrease, trading down by $0.72 and reaching $61.00. The trading volume for the day was recorded at 26,036 shares, significantly below its average volume of 962,511. The current 50-day moving average price of the stock is $57.80, while its 200-day moving average stands at $67.84. The company holds a debt-to-equity ratio of 0.62 and its quick and current ratios are 0.95 and 1.07, respectively. In the past year, Lineage has seen a low of $52.75 and a high of $89.85.

Insider Transactions

In related news, chairman Adam Matthew Schwartz Forste made a notable purchase of 24,317 shares of Lineage stock on February 28th. He bought these shares at an average price of $60.50 each, amounting to a total of $1,471,178.50. Following this transaction, the chairman now holds 24,317 shares valued at approximately that same amount. This purchase represented a significant increase in his position. This transaction has been reported to the Securities & Exchange Commission, which provides details accessible through various channels. Company insiders currently hold about 1.40% of the stock.

Institutional Investor Activity

Institutional investors have also made adjustments to their holdings in Lineage. For instance, US Bancorp DE entered the fray by acquiring a new position in Lineage shares in the third quarter, valued at about $25,000. GAMMA Investing LLC significantly increased its stake by 7,466.7% in the last quarter, now owning 454 shares valued at $27,000 after acquiring an additional 448 shares. FIL Ltd also took a new position in Lineage during the same quarter, estimating its value at $29,000. Other institutional players like Larson Financial Group LLC and Quarry LP have also purchased new positions in the stock, with investments valued at $34,000 and $50,000 respectively, during the third and fourth quarters.

About Lineage

Lineage, Inc is recognized as the largest global temperature-controlled warehouse REIT, boasting a network that exceeds 480 strategically positioned facilities. These facilities collectively cover over 84.1 million square feet and offer 3.0 billion cubic feet of capacity Across various regions, including North America, Europe, and Asia-Pacific. Lineage partners with notable food and beverage producers, retailers, and distributors to enhance distribution efficiency while pushing for sustainability, reducing supply chain waste, and ultimately contributing to global food supply efforts.

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