Line (LN) Upgraded to “Hold” by Zacks Investment Research

Line (NYSE:LN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “LINE Corporation develops and operates the LINE application for smartphones. It offers messenger services which include free messages, voice calls and video calls. The company also provides communication and content sales and advertising services through LINE advertising, livedoor blog, and NAVER Matome Web portals. LINE Corporation is based in Tokyo, Japan. “

LN has been the subject of a number of other reports. Jefferies Financial Group upgraded shares of Line from an “underperform” rating to a “hold” rating in a report on Tuesday, October 16th. Deutsche Bank lowered shares of Line from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. TheStreet lowered shares of Line from a “c” rating to a “d+” rating in a report on Wednesday, October 24th. ValuEngine lowered shares of Line from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, CLSA reiterated a “buy” rating on shares of Line in a report on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $47.00.

NYSE LN opened at $34.80 on Tuesday. The company has a quick ratio of 2.86, a current ratio of 2.91 and a debt-to-equity ratio of 0.67. Line has a 12-month low of $27.66 and a 12-month high of $47.81. The stock has a market cap of $8.40 billion, a price-to-earnings ratio of 116.00 and a beta of 2.14.

Several institutional investors have recently bought and sold shares of the company. Comerica Bank boosted its holdings in shares of Line by 14.7% during the third quarter. Comerica Bank now owns 13,850 shares of the technology company’s stock worth $503,000 after purchasing an additional 1,780 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Line by 183.2% in the third quarter. PNC Financial Services Group Inc. now owns 3,268 shares of the technology company’s stock worth $137,000 after buying an additional 2,114 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Line by 212.2% in the third quarter. Tower Research Capital LLC TRC now owns 5,301 shares of the technology company’s stock worth $223,000 after buying an additional 3,603 shares during the period. SG Americas Securities LLC purchased a new stake in Line in the third quarter worth about $167,000. Finally, Greenleaf Trust purchased a new stake in Line in the third quarter worth about $208,000. Institutional investors own 2.90% of the company’s stock.

Line Company Profile

LINE Corporation provides a platform for mobile messaging and communication services, content distribution, and related services primarily in Japan, Taiwan, Thailand, Indonesia, and Hong Kong. The company offers LINE, a cross-platform messenger application that enable users to communicate through free instant messaging, stickers, and voice and video calls, as well as serves as a smart portal to its other applications and services.

See Also: Why does a company issue an IPO?

Get a free copy of the Zacks research report on Line (LN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Line (NYSE:LN)

Receive News & Ratings for Line Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Line and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit