Lineage, Inc. (NASDAQ:LINE) Receives Consensus Rating of “Hold” from Brokerages

Lineage, Inc. (NASDAQ:LINE) has been given an average recommendation of “Hold” by the twenty-one research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $65.55.

LINE has been the topic of several analyst reports. Royal Bank of Canada dropped their target price on Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Robert W. Baird dropped their price target on Lineage from $70.00 to $64.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. BNP Paribas Exane cut Lineage from a “neutral” rating to an “underperform” rating and set a $42.00 price target for the company. in a report on Thursday. The Goldman Sachs Group lowered their price target on Lineage from $74.00 to $63.00 and set a “buy” rating for the company in a report on Wednesday, May 14th. Finally, Morgan Stanley reduced their price objective on Lineage from $80.00 to $75.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 1st.

Insider Activity

In related news, insider Sudarsan V. Thattai bought 4,420 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were acquired 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 of the company’s stock, valued at $199,916.60. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Adam Matthew Schwartz Forste purchased 10,949 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were acquired at an average cost of $44.93 per share, for a total transaction of $491,938.57. Following the completion of the purchase, the chairman now directly owns 35,266 shares of the company’s stock, 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. Over the last ninety days, insiders bought 26,869 shares of company stock worth $1,194,980. 71.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Strs Ohio purchased a new stake in shares of Lineage in the 1st quarter worth about $5,722,000. Optimize Financial Inc boosted its holdings in shares of Lineage by 37.7% during the 1st quarter. Optimize Financial Inc now owns 7,758 shares of the company’s stock valued at $455,000 after acquiring an additional 2,125 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of Lineage by 0.4% in the first quarter. Woodline Partners LP now owns 312,027 shares of the company’s stock worth $18,294,000 after buying an additional 1,128 shares during the last quarter. Needham Investment Management LLC boosted its holdings in shares of Lineage by 21.7% in the first quarter. Needham Investment Management LLC now owns 14,000 shares of the company’s stock worth $821,000 after buying an additional 2,500 shares during the last quarter. Finally, Millennium Management LLC raised its stake in Lineage by 197.0% during the 1st quarter. Millennium Management LLC now owns 288,518 shares of the company’s stock worth $16,916,000 after acquiring an additional 191,362 shares during the period.

Lineage Stock Down 3.9%

NASDAQ:LINE opened at $43.65 on Friday. Lineage has a 1 year low of $41.88 and a 1 year high of $89.85. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The stock has a market cap of $9.98 billion and a price-to-earnings ratio of -13.56. The stock has a 50-day moving average price of $48.52 and a two-hundred day moving average price of $55.16.

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

Lineage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were given a $0.5275 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.83%. Lineage’s dividend payout ratio (DPR) is currently -65.53%.

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.