Lineage (NASDAQ:LINE) Given New $49.00 Price Target at Citigroup

Lineage (NASDAQ:LINE) had its target price reduced by Citigroup from $64.00 to $49.00 in a research report released on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

LINE has been the subject of a number of other reports. Royal Bank of Canada reduced their target price on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Scotiabank reduced their target price on shares of Lineage from $56.00 to $50.00 and set a “sector perform” rating for the company in a report on Thursday, May 15th. BNP Paribas Exane downgraded shares of Lineage from a “neutral” rating to an “underperform” rating and set a $42.00 target price for the company. in a report on Thursday. Barclays started coverage on shares of Lineage in a report on Wednesday, April 9th. They issued an “overweight” rating and a $59.00 target price for the company. Finally, Piper Sandler reduced their target price on shares of Lineage from $75.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $65.55.

Lineage Stock Performance

LINE stock opened at $45.44 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. The business has a 50-day moving average price of $48.63 and a 200 day moving average price of $55.37. The company has a market capitalization of $10.39 billion and a P/E ratio of -14.11. Lineage has a 1-year low of $41.88 and a 1-year high of $89.85.

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

Lineage Announces Dividend

The firm also recently declared 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 of this dividend was Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 4.64%. Lineage’s dividend payout ratio (DPR) is presently -65.53%.

Insider Buying and Selling

In related news, insider Sudarsan V. Thattai acquired 4,420 shares of the stock in a transaction on Monday, May 5th. The shares were acquired at an average price of $45.23 per share, for a total transaction of $199,916.60. Following the transaction, the insider now owns 4,420 shares in the company, valued at approximately $199,916.60. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Adam Matthew Schwartz Forste acquired 10,949 shares of the stock in a transaction on Thursday, May 8th. The stock was bought at an average price of $44.93 per share, for a total transaction of $491,938.57. Following the transaction, the chairman now owns 35,266 shares in the company, valued at approximately $1,584,501.38. This represents a 45.03% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 26,869 shares of company stock worth $1,194,980. 71.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lineage

Several hedge funds have recently bought and sold shares of the stock. Nissay Asset Management Corp Japan ADV boosted its position in Lineage by 4.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 8,910 shares of the company’s stock worth $526,000 after purchasing an additional 340 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Lineage by 1.2% in the 1st quarter. State of Alaska Department of Revenue now owns 30,095 shares of the company’s stock worth $1,764,000 after purchasing an additional 371 shares in the last quarter. M&T Bank Corp boosted its position in Lineage by 9.7% in the 4th quarter. M&T Bank Corp now owns 4,987 shares of the company’s stock worth $292,000 after purchasing an additional 439 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Lineage by 170.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock worth $43,000 after purchasing an additional 460 shares in the last quarter. Finally, EPIQ Capital Group LLC boosted its position in Lineage by 10.9% in the 4th quarter. EPIQ Capital Group LLC now owns 5,100 shares of the company’s stock worth $301,000 after purchasing an additional 500 shares in 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.