Lineage (NASDAQ:LINE) Downgraded by JPMorgan Chase & Co. to Neutral

Lineage (NASDAQ:LINE) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. They currently have a $75.00 target price on the stock, down from their prior target price of $78.00. JPMorgan Chase & Co.‘s target price points to a potential upside of 28.05% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. The Goldman Sachs Group decreased their price objective on Lineage from $104.00 to $89.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Wells Fargo & Company lifted their target price 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. Robert W. Baird dropped their price target on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Evercore ISI reduced their price objective on shares of Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Finally, Royal Bank of Canada lowered their target price on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, November 13th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.50.

Lineage Trading Up 2.9 %

LINE opened at $58.57 on Friday. The company has a 50-day moving average of $67.64. 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 twelve month low of $56.67 and a twelve month high of $89.85.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($3.22). The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. Lineage’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the company posted $0.75 earnings per share. Sell-side analysts expect that Lineage will post 3 EPS for the current fiscal year.

Hedge Funds Weigh In On Lineage

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE purchased a new stake in shares of Lineage during the 3rd quarter valued at $25,000. Larson Financial Group LLC bought a new position in Lineage in the third quarter valued at $34,000. Spirit of America Management Corp NY purchased a new stake in Lineage during the third quarter valued at about $165,000. Stifel Financial Corp bought a new stake in Lineage during the third quarter worth about $211,000. Finally, MetLife Investment Management LLC purchased a new position in shares of Lineage in the 3rd quarter worth about $226,000.

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.