Lineage (NASDAQ:LINE) Coverage Initiated at Barclays

Research analysts at Barclays started coverage on shares of Lineage (NASDAQ:LINE - Get Free Report) in a report released on Wednesday, MarketBeat Ratings reports. The brokerage set an "overweight" rating and a $59.00 price target on the stock. Barclays's target price indicates a potential upside of 8.36% from the company's current price.

A number of other equities research analysts have also recently weighed in on the stock. Robert W. Baird cut 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. Piper Sandler dropped their target price on 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 reduced their price target on Lineage from $89.00 to $77.00 and set a "buy" rating for the company in a report on Friday, January 17th. Scotiabank increased their price objective on shares of Lineage from $73.00 to $74.00 and gave the company a "sector outperform" rating in a research report on Monday, March 10th. Finally, Royal Bank of Canada reduced their price objective on shares of Lineage from $81.00 to $74.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $77.63.

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Lineage Trading Up 1.4 %

Lineage stock traded up $0.75 on Wednesday, hitting $54.45. 135,313 shares of the stock traded hands, compared to its average volume of 1,279,867. Lineage has a 1 year low of $46.63 and a 1 year high of $89.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. The business's fifty day simple moving average is $57.27 and its 200 day simple moving average is $62.58.

Insider Buying and Selling

In other Lineage news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the company's stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the purchase, the chairman now directly owns 24,317 shares of the company's stock, valued at $1,471,178.50. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lineage

A number of institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Lineage in the fourth quarter worth about $681,572,000. Vanguard Group Inc. increased its holdings in Lineage by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company's stock worth $562,003,000 after acquiring an additional 408,526 shares in the last quarter. D1 Capital Partners L.P. boosted its position in shares of Lineage by 257.5% in the fourth quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company's stock worth $219,848,000 after purchasing an additional 2,703,598 shares during the period. Janus Henderson Group PLC increased its stake in shares of Lineage by 92.1% in the fourth quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company's stock worth $189,380,000 after purchasing an additional 1,550,478 shares in the last quarter. Finally, Baillie Gifford & Co. raised its position in shares of Lineage by 80.8% during the 4th quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company's stock valued at $181,484,000 after purchasing an additional 1,384,481 shares during the period.

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.