Lineage (NASDAQ:LINE) Coverage Initiated at Citigroup

Citigroup initiated coverage on shares of Lineage (NASDAQ:LINE - Get Free Report) in a research report issued on Friday, Marketbeat Ratings reports. The firm set a "neutral" rating and a $64.00 price target on the stock. Citigroup's price objective suggests a potential upside of 12.29% from the stock's current price.

A number of other research analysts also recently issued reports on LINE. Mizuho decreased their price target on shares of Lineage from $86.00 to $67.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. cut shares of Lineage from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $78.00 to $75.00 in a report on Friday, December 20th. Royal Bank of Canada dropped their price objective on shares of Lineage from $81.00 to $74.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Piper Sandler reduced their price target on Lineage from $90.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Finally, Robert W. Baird decreased their price objective on shares of Lineage from $76.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $81.06.

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Lineage Price Performance

Lineage stock traded down $1.64 during midday trading on Friday, hitting $57.00. 488,688 shares of the stock were exchanged, compared to its average volume of 1,276,059. Lineage has a fifty-two week low of $52.75 and a fifty-two week high of $89.85. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. The stock's 50-day simple moving average is $58.58 and its 200 day simple moving average is $64.58.

Insider Activity

In other Lineage news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the business's stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the transaction, the chairman now directly owns 24,317 shares of the company's stock, valued at $1,471,178.50. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of Lineage

Several hedge funds have recently added to or reduced their stakes in LINE. Norges Bank bought a new position in Lineage in the 4th quarter valued at about $681,572,000. Wellington Management Group LLP bought a new position in shares of Lineage during the third quarter valued at $265,895,000. D1 Capital Partners L.P. boosted its holdings in Lineage by 257.5% in the fourth quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company's stock valued at $219,848,000 after acquiring an additional 2,703,598 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Lineage during the 3rd quarter worth about $173,115,000. Finally, Janus Henderson Group PLC acquired a new position in Lineage in the third quarter valued at approximately $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.