Royal Bank of Canada Issues Pessimistic Forecast for Lineage (NASDAQ:LINE) Stock Price

Lineage (NASDAQ:LINE - Free Report) had its target price decreased by Royal Bank of Canada from $81.00 to $74.00 in a research note released on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other research analysts also recently commented on the company. Robert W. Baird reduced their target price on Lineage from $76.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Piper Sandler reduced their target price on Lineage from $90.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. downgraded Lineage from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $78.00 to $75.00 in a research note on Friday, December 20th. BNP Paribas started coverage on Lineage in a research note on Tuesday, January 14th. They set a "neutral" rating and a $61.00 target price for the company. Finally, Mizuho reduced their target price on Lineage from $86.00 to $67.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $82.00.

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Lineage Stock Performance

LINE stock traded up $0.26 during mid-day trading on Thursday, reaching $61.26. The company had a trading volume of 1,205,781 shares, compared to its average volume of 989,181. 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 has a 52 week low of $52.75 and a 52 week high of $89.85. The stock has a 50 day simple moving average of $57.91 and a two-hundred day simple moving average of $67.75.

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st were issued a $0.5275 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.11 annualized dividend and a yield of 3.44%.

Insider Buying and Selling at Lineage

In related news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the company's stock in a transaction on Friday, February 28th. The stock was purchased at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the acquisition, the chairman now directly owns 24,317 shares of the company's stock, valued at approximately $1,471,178.50. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On Lineage

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE acquired a new position in shares of Lineage during the 3rd quarter worth $25,000. Janney Montgomery Scott LLC acquired a new position in shares of Lineage during the 3rd quarter worth $781,000. Van ECK Associates Corp acquired a new position in shares of Lineage during the 3rd quarter worth $833,000. Asset Management One Co. Ltd. acquired a new position in shares of Lineage during the 3rd quarter worth $6,595,000. Finally, Amalgamated Bank acquired a new position in shares of Lineage during the 3rd quarter worth $255,000.

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.