Lineage (NASDAQ:LINE) Price Target Raised to $74.00 at Scotiabank

Lineage (NASDAQ:LINE - Free Report) had its target price hoisted by Scotiabank from $73.00 to $74.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a sector outperform rating on the stock.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. downgraded Lineage from an "overweight" rating to a "neutral" rating and cut their target price for the company from $78.00 to $75.00 in a research note on Friday, December 20th. Royal Bank of Canada lowered their price target on Lineage from $81.00 to $74.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. BNP Paribas began coverage on Lineage in a report on Tuesday, January 14th. They set a "neutral" rating and a $61.00 price target on the stock. Robert W. Baird lowered their price target on Lineage from $76.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Finally, Mizuho lowered their price target on Lineage from $86.00 to $67.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Seven research 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. Based on data from MarketBeat, Lineage presently has an average rating of "Moderate Buy" and an average target price of $82.06.

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Lineage Stock Up 2.4 %

Shares of Lineage stock traded up $1.38 during midday trading on Monday, hitting $58.16. The company had a trading volume of 527,455 shares, compared to its average volume of 989,145. The company has a 50 day moving average of $57.94 and a 200 day moving average of $66.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. Lineage has a 52-week low of $52.75 and a 52-week high of $89.85.

Insider Buying and Selling

In other news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the firm's stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the purchase, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of Lineage

Several institutional investors have recently added to or reduced their stakes in LINE. Van ECK Associates Corp bought a new stake in shares of Lineage during the third quarter valued at approximately $833,000. TOMS Capital Investment Management LP bought a new stake in shares of Lineage during the third quarter valued at approximately $15,676,000. JPMorgan Chase & Co. bought a new stake in shares of Lineage during the third quarter valued at approximately $12,542,000. Nicola Wealth Management LTD. bought a new stake in shares of Lineage during the third quarter valued at approximately $658,000. Finally, Principal Financial Group Inc. bought a new stake in shares of Lineage during the third quarter valued at approximately $173,115,000.

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.