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

Lineage (NASDAQ:LINE) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Friday, MarketBeat Ratings reports. They currently have a $75.00 price objective on the stock, down from their previous price objective of $78.00. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 31.81% from the stock’s previous close.

Other research analysts have also issued reports about the company. Capital One Financial began coverage on Lineage in a report on Monday, September 16th. They issued an “overweight” rating and a $91.00 price objective on the stock. Robert W. Baird decreased 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 lowered their price target on shares of Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Wells Fargo & Company boosted their price objective on shares of Lineage from $86.00 to $89.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Finally, The Goldman Sachs Group decreased their target price on shares of Lineage from $104.00 to $89.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.50.

Lineage Stock Down 4.4 %

Shares of LINE stock opened at $56.90 on Friday. Lineage has a 52 week low of $56.87 and a 52 week high of $89.85. The business’s 50-day moving average is $67.98. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Lineage (NASDAQ:LINE) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The company’s revenue was up .5% on a year-over-year basis. Equities research analysts predict that Lineage will post 3 earnings per share for the current year.

Institutional Investors Weigh In On Lineage

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in Lineage in the 3rd quarter valued at approximately $658,000. Perpetual Ltd acquired a new position in shares of Lineage during the third quarter worth $324,000. Renaissance Capital LLC bought a new position in shares of Lineage in the 3rd quarter valued at $5,209,000. Vontobel Holding Ltd. acquired a new stake in shares of Lineage during the 3rd quarter valued at $1,026,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Lineage during the 3rd quarter worth $3,582,000.

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.