Lineage (NASDAQ:LINE) Hits New 52-Week Low After Analyst Downgrade

Lineage, Inc. (NASDAQ:LINE) reached a new 52-week low during trading on Thursday after UBS Group lowered their price target on the stock from $62.00 to $49.00. UBS Group currently has a neutral rating on the stock. Lineage traded as low as $46.50 and last traded at $46.91, with a volume of 608320 shares traded. The stock had previously closed at $48.23.

Several other brokerages also recently issued reports on LINE. The Goldman Sachs Group reduced their price target on shares of Lineage from $89.00 to $77.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Royal Bank of Canada lowered their price objective on Lineage from $81.00 to $74.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Scotiabank reiterated a “sector perform” rating and set a $56.00 price target (down previously from $74.00) on shares of Lineage in a research report on Thursday, April 10th. Mizuho cut their target price on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, Robert W. Baird decreased their price target on shares of Lineage from $70.00 to $64.00 and set an “outperform” rating for the company in a report on Thursday. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.26.

Insider Buying and Selling

In other news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the company’s stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the transaction, the chairman now owns 24,317 shares of the company’s stock, valued at $1,471,178.50. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lineage

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in Lineage by 7,466.7% in the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after buying an additional 448 shares during the period. FIL Ltd acquired a new stake in Lineage during the 4th quarter valued at $29,000. Salomon & Ludwin LLC bought a new position in Lineage during the first quarter worth $34,000. Quarry LP acquired a new position in shares of Lineage in the fourth quarter valued at $50,000. Finally, Global X Japan Co. Ltd. bought a new position in shares of Lineage in the first quarter valued at about $74,000.

Lineage Stock Down 4.1 %

The business’s 50 day moving average price is $56.55 and its 200-day moving average price is $60.46. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07.

Lineage (NASDAQ:LINE) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.34 billion. Lineage’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, equities research analysts expect that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend was Monday, March 31st.

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.