Scotiabank Issues Pessimistic Forecast for Lineage (NASDAQ:LINE) Stock Price

Lineage (NASDAQ:LINE) had its price objective dropped by investment analysts at Scotiabank from $94.00 to $76.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 19.55% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Lineage in a research report on Monday, August 19th. They issued a “hold” rating and a $90.00 price target on the stock. Mizuho assumed coverage on shares of Lineage in a report on Monday, August 19th. They issued a “neutral” rating and a $86.00 target price on the stock. UBS Group assumed coverage on shares of Lineage in a report on Monday, August 19th. They set a “neutral” rating and a $88.00 price target for the company. Piper Sandler started coverage on shares of Lineage in a report on Monday, August 19th. They issued an “overweight” rating and a $102.00 price objective on the stock. Finally, Evercore ISI decreased their price objective on shares of Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.63.

Lineage Stock Performance

Shares of LINE stock opened at $63.57 on Tuesday. Lineage has a fifty-two week low of $61.00 and a fifty-two week high of $89.85. The company has a 50 day simple moving average of $70.32. 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 (NASDAQ:LINE) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($2.44) EPS for the quarter, missing the consensus estimate of $0.78 by ($3.22). The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The business’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 EPS. On average, equities analysts predict that Lineage will post 3 earnings per share for the current year.

Institutional Trading of Lineage

Large investors have recently made changes to their positions in the company. US Bancorp DE acquired a new position in Lineage during the third quarter worth approximately $25,000. Larson Financial Group LLC acquired a new stake in shares of Lineage in the third quarter valued at approximately $34,000. Spirit of America Management Corp NY purchased a new position in shares of Lineage during the third quarter worth approximately $165,000. Stifel Financial Corp acquired a new position in shares of Lineage in the 3rd quarter valued at $211,000. Finally, MetLife Investment Management LLC purchased a new stake in Lineage in the 3rd quarter valued at $226,000.

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.