Lineage (NASDAQ:LINE) Price Target Lowered to $60.00 at Piper Sandler

Lineage (NASDAQ:LINE) had its price objective lowered by Piper Sandler from $75.00 to $60.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms also recently commented on LINE. Robert W. Baird reduced their price target on shares of Lineage from $70.00 to $64.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Mizuho decreased their price objective on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Morgan Stanley dropped their target price on Lineage from $80.00 to $75.00 and set an “overweight” rating on the stock in a report on Tuesday, April 1st. The Goldman Sachs Group decreased their price target on Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a report on Friday, January 17th. Finally, BNP Paribas started coverage on shares of Lineage in a research note on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.47.

Lineage Stock Down 2.2 %

Shares of NASDAQ LINE opened at $44.28 on Monday. Lineage has a 52-week low of $44.00 and a 52-week high of $89.85. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The company’s 50-day simple moving average is $56.29 and its 200-day simple moving average is $60.01. The firm has a market cap of $10.10 billion and a price-to-earnings ratio of -13.75.

Lineage (NASDAQ:LINE) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The business’s revenue was down 2.7% on a year-over-year basis. Equities analysts predict that Lineage will post 2.34 EPS for the current fiscal year.

Lineage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, March 31st were issued a $0.5275 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 4.77%. Lineage’s payout ratio is -65.53%.

Insider Buying and Selling

In related news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the acquisition, the chairman now owns 24,317 shares of the company’s stock, valued at $1,471,178.50. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LINE. Norges Bank bought a new position in shares of Lineage in the fourth quarter valued at approximately $681,572,000. Vanguard Group Inc. grew its position in shares of Lineage by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company’s stock valued at $562,003,000 after purchasing an additional 408,526 shares in the last quarter. D1 Capital Partners L.P. increased its holdings in shares of Lineage by 257.5% in the fourth 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. Janus Henderson Group PLC grew its position in Lineage by 92.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company’s stock worth $189,380,000 after buying an additional 1,550,478 shares in the last quarter. Finally, Baillie Gifford & Co. increased its stake in Lineage by 80.8% in the 4th quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company’s stock worth $181,484,000 after acquiring an additional 1,384,481 shares during the last quarter.

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.