Lineage (NASDAQ:LINE) Price Target Cut to $75.00 by Analysts at Morgan Stanley

Lineage (NASDAQ:LINE - Get Free Report) had its price objective decreased by investment analysts at Morgan Stanley from $80.00 to $75.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Morgan Stanley's price target points to a potential upside of 37.99% from the company's current price.

Several other analysts have also recently commented on LINE. Robert W. Baird decreased their target price on Lineage from $76.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Piper Sandler decreased their price objective on shares of Lineage from $90.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group dropped their target price on shares of Lineage from $89.00 to $77.00 and set a "buy" rating for the company in a research note on Friday, January 17th. Scotiabank increased their price target on shares of Lineage from $73.00 to $74.00 and gave the company a "sector outperform" rating in a research note on Monday, March 10th. Finally, Citigroup initiated coverage on shares of Lineage in a research report on Friday, March 28th. They issued a "neutral" rating and a $64.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lineage presently has a consensus rating of "Moderate Buy" and an average price target of $79.67.

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Lineage Price Performance

Shares of LINE traded down $2.06 on Tuesday, hitting $54.35. The company's stock had a trading volume of 2,029,717 shares, compared to its average volume of 1,282,843. Lineage has a fifty-two week low of $52.75 and a fifty-two week high of $89.85. The company has a 50 day moving average price of $58.30 and a 200 day moving average price of $63.97. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Insider Buying and Selling at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the firm's stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the transaction, the chairman now directly owns 24,317 shares in the company, valued at approximately $1,471,178.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On Lineage

A number of hedge funds have recently added to or reduced their stakes in LINE. Janney Montgomery Scott LLC grew its holdings in shares of Lineage by 1.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 10,154 shares of the company's stock worth $595,000 after purchasing an additional 185 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Lineage by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 29,724 shares of the company's stock worth $1,740,000 after buying an additional 291 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in Lineage by 4.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 8,910 shares of the company's stock valued at $526,000 after buying an additional 340 shares during the period. M&T Bank Corp raised its position in shares of Lineage by 9.7% in the 4th quarter. M&T Bank Corp now owns 4,987 shares of the company's stock valued at $292,000 after buying an additional 439 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Lineage by 7,466.7% during the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company's stock worth $27,000 after acquiring an additional 448 shares during the period.

Lineage Company Profile

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.