Robert W. Baird Has Lowered Expectations for Lineage (NASDAQ:LINE) Stock Price

Lineage (NASDAQ:LINE) had its price objective lowered by analysts at Robert W. Baird from $43.00 to $40.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird‘s price objective suggests a potential upside of 14.68% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group set a $44.00 target price on shares of Lineage and gave the company a “buy” rating in a report on Monday, October 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lineage in a report on Tuesday, November 3rd. JPMorgan Chase & Co. cut their price target on shares of Lineage from $40.00 to $37.00 and set an “underweight” rating for the company in a report on Thursday, October 15th. Citigroup raised their price objective on shares of Lineage from $42.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th. Finally, Evercore set a $43.00 target price on shares of Lineage in a research report on Friday, October 2nd. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Lineage has an average rating of “Hold” and a consensus price target of $41.73.

Lineage Stock Performance

Shares of LINE stock opened at $34.88 on Wednesday. The stock’s 50-day moving average is $36.20 and its two-hundred day moving average is $38.75. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of 87.20 and a beta of 0.79. Lineage has a 1 year low of $31.33 and a 1 year high of $45.75. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.78.

Insider Activity

In related news, Chairman Kevin Marchetti acquired 25,000 shares of the stock in a transaction dated Friday, August 28th. The stock was bought at an average cost of $39.50 per share, with a total value of $987,500.00. Following the purchase, the chairman directly owned 138,690 shares of the company’s stock, valued at approximately $5,478,255. This represents a 21.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 71.60% of the stock is owned by corporate insiders.

Institutional Trading of Lineage

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Lineage in the second quarter valued at approximately $227,511,000. Bank of America Corp DE lifted its stake in shares of Lineage by 712.1% in the first quarter. Bank of America Corp DE now owns 3,610,123 shares of the company’s stock worth $118,268,000 after acquiring an additional 3,165,593 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Lineage by 5.3% in the third quarter. HighTower Advisors LLC now owns 2,407,052 shares of the company’s stock valued at $82,129,000 after purchasing an additional 120,886 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Lineage in the second quarter valued at about $44,638,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Lineage during the 2nd quarter valued at approximately $41,271,000.

Lineage Company Profile

Lineage, Inc. is a global temperature-controlled warehousing and logistics company. It operates refrigerated and frozen storage facilities that help food producers, retailers, and other customers manage products that require controlled temperatures. Its services include cold storage, food processing and handling, blast freezing, transportation, and other supply-chain solutions. By connecting warehouses with transportation and distribution networks, Lineage supports the movement of perishable goods from producers to consumers.