Royal Bank of Canada Has Lowered Expectations for Lineage (NASDAQ:LINE) Stock Price

Lineage (NASDAQ:LINE - Free Report) had its price objective decreased by Royal Bank of Canada from $94.00 to $81.00 in a research report released on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

LINE has been the subject of a number of other research reports. Wells Fargo & Company lifted their price target on shares of Lineage from $86.00 to $89.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 28th. Evercore ISI dropped their target price on Lineage from $88.00 to $78.00 and set an "in-line" rating on the stock in a report on Thursday, November 7th. Robert W. Baird lowered their price objective on Lineage from $91.00 to $85.00 and set an "outperform" rating for the company in a research report on Thursday, November 7th. Piper Sandler began coverage on Lineage in a research note on Monday, August 19th. They set an "overweight" rating and a $102.00 target price for the company. Finally, The Goldman Sachs Group lowered their price target on Lineage from $105.00 to $104.00 and set a "buy" rating for the company in a report on Friday, September 13th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lineage has a consensus rating of "Moderate Buy" and an average target price of $91.69.

Lineage Price Performance

Lineage stock traded down $0.83 during mid-day trading on Wednesday, reaching $64.78. 955,941 shares of the company's stock were exchanged, compared to its average volume of 1,418,466. 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 twelve month low of $64.48 and a twelve month high of $89.85. The stock's fifty day simple moving average is $77.02.

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

Lineage Announces Dividend

The company also recently declared a -- dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, September 30th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Monday, September 30th.

Institutional Investors Weigh In On Lineage

Large investors have recently added to or reduced their stakes in the business. US Bancorp DE purchased a new stake in shares of Lineage in the third quarter valued at about $25,000. Larson Financial Group LLC purchased a new stake in Lineage in the 3rd quarter valued at approximately $34,000. Spirit of America Management Corp NY acquired a new stake in Lineage during the 3rd quarter valued at $165,000. Amalgamated Bank purchased a new position in Lineage during the third quarter worth $255,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Lineage in the third quarter worth $312,000.

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.