The Goldman Sachs Group Cuts Lineage (NASDAQ:LINE) Price Target to $89.00

Lineage (NASDAQ:LINE) had its price target lowered by The Goldman Sachs Group from $104.00 to $89.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also weighed in on LINE. UBS Group started coverage on shares of Lineage in a research report on Monday, August 19th. They issued a “neutral” rating and a $88.00 price objective on the stock. Robert W. Baird reduced their target price on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. KeyCorp started coverage on shares of Lineage in a research report on Monday, August 19th. They set an “overweight” rating and a $92.00 target price on the stock. Baird R W raised shares of Lineage to a “strong-buy” rating in a research report on Monday, August 19th. Finally, Piper Sandler started coverage on shares of Lineage in a research report on Monday, August 19th. They set an “overweight” rating and a $102.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.75.

Lineage Price Performance

Lineage stock opened at $63.53 on Thursday. 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 1-year low of $62.65 and a 1-year high of $89.85. The stock has a 50-day moving average price of $75.90.

Lineage (NASDAQ:LINE) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the company earned $0.75 earnings per share. The business’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities research analysts anticipate that Lineage will post 3 EPS for the current year.

Lineage Dividend Announcement

The company also recently announced a — dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, September 30th were paid a $0.38 dividend. The ex-dividend date was Monday, September 30th.

Institutional Investors Weigh In On Lineage

Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC acquired a new stake in Lineage in the third quarter valued at approximately $91,161,000. M&T Bank Corp acquired a new stake in Lineage in the third quarter valued at approximately $356,000. Barclays PLC acquired a new stake in Lineage in the third quarter valued at approximately $13,928,000. Public Employees Retirement System of Ohio acquired a new stake in Lineage in the third quarter valued at approximately $1,754,000. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in Lineage in the third quarter valued at approximately $5,787,000.

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.