Lineage (NASDAQ:LINE) Given New $75.00 Price Target at Morgan Stanley

Lineage (NASDAQ:LINE) had its target price dropped by analysts at Morgan Stanley from $80.00 to $75.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 32.04% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut shares of Lineage from an “overweight” rating to a “neutral” rating and cut their price target for the company from $78.00 to $75.00 in a research note on Friday, December 20th. Royal Bank of Canada reduced their price target on Lineage from $81.00 to $74.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Mizuho dropped their price objective on Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. 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. Finally, Citigroup began coverage on Lineage in a research note on Friday. They issued a “neutral” rating and a $64.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.67.

Lineage Stock Performance

Shares of Lineage stock traded down $1.83 on Tuesday, reaching $56.80. 528,761 shares of the company were exchanged, compared to its average volume of 1,276,165. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. Lineage has a one year low of $52.75 and a one year high of $89.85. The company has a 50-day moving average of $58.58 and a 200 day moving average of $64.58.

Insider Activity

In other Lineage news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost 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 $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Lineage

A number of hedge funds have recently made changes to their positions in LINE. GAMMA Investing LLC lifted its stake in Lineage by 7,466.7% in the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after purchasing an additional 448 shares during the last quarter. FIL Ltd bought a new position in shares of Lineage during the fourth quarter valued at $29,000. Quarry LP bought a new stake in shares of Lineage in the fourth quarter worth $50,000. Stifel Financial Corp increased its holdings in Lineage by 30.5% in the fourth quarter. Stifel Financial Corp now owns 3,509 shares of the company’s stock valued at $206,000 after purchasing an additional 821 shares during the period. Finally, Franklin Resources Inc. bought a new position in Lineage during the 4th quarter worth $208,000.

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.