Royal Bank Of Canada Issues Positive Forecast for Lineage (NASDAQ:LINE) Stock Price

Lineage (NASDAQ:LINE) had its price objective raised by investment analysts at Royal Bank Of Canada from $42.00 to $44.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 10.38% from the stock’s current price.

LINE has been the subject of a number of other reports. Wells Fargo & Company reduced their price target on shares of Lineage from $43.00 to $32.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 25th. Mizuho dropped their price objective on shares of Lineage from $44.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Zacks Research downgraded Lineage from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Piper Sandler raised their price objective on shares of Lineage from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Scotiabank boosted their target price on Lineage from $37.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Friday, January 9th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $42.53.

Lineage Trading Down 1.6%

LINE stock traded down $0.66 during trading on Monday, reaching $39.86. 146,455 shares of the stock were exchanged, compared to its average volume of 1,512,743. The company has a current ratio of 0.80, a quick ratio of 0.71 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $9.10 billion, a price-to-earnings ratio of -92.77 and a beta of -0.43. The business has a 50 day moving average price of $36.68 and a 200-day moving average price of $37.81. Lineage has a 1 year low of $32.46 and a 1 year high of $62.30.

Lineage (NASDAQ:LINE) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.70). The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Lineage had a negative return on equity of 1.06% and a negative net margin of 1.87%.The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the company earned $0.83 earnings per share. On average, research analysts predict that Lineage will post 2.34 earnings per share for the current year.

Hedge Funds Weigh In On Lineage

A number of hedge funds have recently made changes to their positions in LINE. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Lineage by 58.0% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 76,007 shares of the company’s stock worth $2,937,000 after acquiring an additional 27,905 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in Lineage by 110.2% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 22,927 shares of the company’s stock worth $998,000 after purchasing an additional 12,021 shares in the last quarter. Corient Private Wealth LLC raised its holdings in Lineage by 590.5% in the second quarter. Corient Private Wealth LLC now owns 88,680 shares of the company’s stock valued at $3,859,000 after buying an additional 75,838 shares during the period. SCP Investment LP lifted its position in Lineage by 113.3% during the third quarter. SCP Investment LP now owns 480,000 shares of the company’s stock valued at $18,547,000 after buying an additional 255,000 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new stake in Lineage during the third quarter worth approximately $43,804,000.

About Lineage

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.