Lineage (NASDAQ:LINE) Cut to Neutral at JPMorgan Chase & Co.

Lineage (NASDAQ:LINE - Get Free Report) was downgraded by analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a research note issued to investors on Friday, MarketBeat Ratings reports. They presently have a $75.00 price target on the stock, down from their previous price target of $78.00. JPMorgan Chase & Co.'s target price points to a potential upside of 28.05% from the stock's current price.

A number of other equities research analysts have also issued reports on LINE. Capital One Financial started coverage on Lineage in a research report on Monday, September 16th. They issued an "overweight" rating and a $91.00 price target on the stock. Scotiabank dropped their price target on shares of Lineage from $94.00 to $76.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, December 10th. Wells Fargo & Company upped their target price on shares of Lineage from $86.00 to $89.00 and gave the company an "equal weight" rating in a report on Wednesday, August 28th. Evercore ISI reduced their price target 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. Finally, The Goldman Sachs Group dropped their price objective on Lineage from $104.00 to $89.00 and set a "buy" rating on the stock in a report on Thursday, November 14th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Lineage presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.50.

Lineage Trading Up 2.9 %

LINE stock traded up $1.67 during mid-day trading on Friday, hitting $58.57. 2,597,078 shares of the company were exchanged, compared to its average volume of 1,354,440. Lineage has a 12-month low of $56.67 and a 12-month high of $89.85. The firm's fifty day simple moving average is $67.98. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95.

Lineage (NASDAQ:LINE - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($3.22). The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The business's revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 earnings per share. On average, analysts predict that Lineage will post 3 EPS for the current year.

Institutional Trading of Lineage

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP acquired a new stake in Lineage in the 3rd quarter valued at about $265,895,000. Victory Capital Management Inc. purchased a new position in shares of Lineage during the 3rd quarter worth approximately $176,790,000. Principal Financial Group Inc. purchased a new stake in Lineage in the 3rd quarter valued at approximately $173,115,000. Baillie Gifford & Co. purchased a new position in Lineage during the third quarter worth $134,351,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Lineage during the third quarter valued at $131,875,000.

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.