Morgan Stanley Has Lowered Expectations for Lineage (NASDAQ:LINE) Stock Price

Lineage (NASDAQ:LINE) had its price target lowered by investment analysts at Morgan Stanley from $80.00 to $75.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 32.04% from the company’s previous close.

Several other equities research analysts have also commented on LINE. Royal Bank of Canada cut their target price on Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Scotiabank raised their price objective on shares of Lineage from $73.00 to $74.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 10th. Robert W. Baird dropped their target price on shares of Lineage from $76.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. JPMorgan Chase & Co. cut shares of Lineage from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $78.00 to $75.00 in a report on Friday, December 20th. Finally, BNP Paribas began coverage on shares of Lineage in a report on Tuesday, January 14th. They set a “neutral” rating and a $61.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lineage has a consensus rating of “Moderate Buy” and an average price target of $79.67.

Lineage Stock Performance

LINE traded down $1.83 during trading on Tuesday, reaching $56.80. 528,761 shares of the stock traded hands, compared to its average volume of 1,276,165. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. The stock’s 50-day moving average is $58.58 and its 200 day moving average is $64.58. Lineage has a 12 month low of $52.75 and a 12 month high of $89.85.

Insider Buying and Selling at Lineage

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 purchased at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the purchase, the chairman now owns 24,317 shares in the company, valued at approximately $1,471,178.50. This represents a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Lineage

A number of hedge funds and other institutional investors have recently modified their holdings of LINE. Norges Bank bought a new stake in Lineage during the fourth quarter worth $681,572,000. Wellington Management Group LLP purchased a new stake in shares of Lineage during the 3rd quarter valued at $265,895,000. D1 Capital Partners L.P. raised its stake in shares of Lineage by 257.5% during the 4th quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company’s stock worth $219,848,000 after purchasing an additional 2,703,598 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Lineage in the 3rd quarter worth about $173,115,000. Finally, Janus Henderson Group PLC bought a new position in Lineage during the third quarter valued at about $131,875,000.

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.