Lineage (NASDAQ:LINE) Price Target Cut to $48.00 by Analysts at Wells Fargo & Company

Lineage (NASDAQ:LINE) had its price objective trimmed by Wells Fargo & Company from $64.00 to $48.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other brokerages have also recently issued reports on LINE. The Goldman Sachs Group reduced their price target on shares of Lineage from $74.00 to $63.00 and set a “buy” rating on the stock in a research report on Wednesday, May 14th. Piper Sandler dropped their price objective on shares of Lineage from $75.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Bank of America lowered shares of Lineage from a “buy” rating to a “neutral” rating and set a $49.00 price objective on the stock. in a research note on Tuesday, May 6th. Robert W. Baird dropped their price objective on shares of Lineage from $70.00 to $64.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Finally, Royal Bank of Canada dropped their target price on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Ten equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $67.58.

Lineage Stock Up 0.5%

Lineage stock opened at $47.89 on Monday. The firm has a 50 day moving average price of $53.50 and a 200-day moving average price of $57.90. The company has a market capitalization of $10.95 billion and a P/E ratio of -14.87. Lineage has a twelve month low of $42.05 and a twelve month 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.

Lineage (NASDAQ:LINE) last announced 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. 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 was down 2.7% on a year-over-year basis. As a group, equities analysts predict that Lineage will post 2.34 EPS for the current year.

Lineage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were issued a dividend of $0.5275 per share. The ex-dividend date was Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 4.41%. Lineage’s dividend payout ratio is currently -65.53%.

Insider Buying and Selling at Lineage

In other news, insider Sudarsan V. Thattai acquired 4,420 shares of Lineage stock in a transaction dated Monday, May 5th. The stock was purchased at an average cost of $45.23 per share, with a total value of $199,916.60. Following the completion of the purchase, the insider now directly owns 4,420 shares in the company, valued at approximately $199,916.60. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $60.50 per share, with a total value of $1,471,178.50. Following 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 disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 51,186 shares of company stock valued at $2,666,159. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Lineage

A number of hedge funds and other institutional investors have recently modified their holdings of LINE. FIL Ltd bought a new position in shares of Lineage during the fourth quarter worth $29,000. Costello Asset Management INC bought a new position in shares of Lineage during the first quarter worth $29,000. Salomon & Ludwin LLC bought a new position in shares of Lineage during the first quarter worth $34,000. PNC Financial Services Group Inc. lifted its position in Lineage by 170.4% during the first quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock valued at $43,000 after purchasing an additional 460 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Lineage in the 4th quarter worth $50,000.

Lineage Company Profile

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.