Royal Bank of Canada Cuts Lineage (NASDAQ:LINE) Price Target to $81.00

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

A number of other research analysts also recently commented on the stock. Robert W. Baird decreased their price objective on shares of 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 initiated coverage on Lineage in a report on Monday, August 19th. They set an “overweight” rating and a $102.00 price target for the company. Mizuho started coverage on Lineage in a research report on Monday, August 19th. They issued a “neutral” rating and a $86.00 price objective for the company. Bank of America began coverage on Lineage in a report on Monday, August 19th. They set a “buy” rating and a $100.00 target price on the stock. Finally, Wells Fargo & Company raised their price target on Lineage from $86.00 to $89.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.75.

Lineage Price Performance

NASDAQ:LINE opened at $63.53 on Wednesday. The business has a 50-day simple moving average of $75.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. Lineage has a 12-month low of $62.65 and a 12-month high of $89.85.

Lineage (NASDAQ:LINE) last posted its quarterly earnings results 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). Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the firm earned $0.75 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, equities analysts anticipate that Lineage will post 3 EPS for the current year.

Lineage Announces Dividend

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

Hedge Funds Weigh In On Lineage

Hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE bought a new stake in shares of Lineage during the 3rd quarter valued at $25,000. Larson Financial Group LLC bought a new stake in Lineage during the third quarter worth about $34,000. Spirit of America Management Corp NY acquired a new stake in Lineage during the third quarter worth about $165,000. Stifel Financial Corp acquired a new stake in Lineage during the third quarter worth about $211,000. Finally, MetLife Investment Management LLC bought a new position in Lineage in the 3rd quarter valued at 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.