Lineage (NASDAQ:LINE) Given New $51.00 Price Target at Royal Bank Of Canada

Lineage (NASDAQ:LINE) had its price objective decreased by Royal Bank Of Canada from $64.00 to $51.00 in a research report report published on Monday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

LINE has been the subject of a number of other research reports. Wells Fargo & Company cut their price target on shares of Lineage from $64.00 to $48.00 and set an “equal weight” rating for the company in a report on Monday, May 19th. KeyCorp restated a “sector weight” rating and set a $84.00 price target on shares of Lineage in a report on Tuesday, July 1st. Robert W. Baird cut their price target on shares of Lineage from $64.00 to $51.00 and set an “outperform” rating for the company in a report on Wednesday, August 13th. The Goldman Sachs Group cut their price target on shares of Lineage from $57.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. Finally, Piper Sandler cut their price target on shares of Lineage from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $57.40.

Lineage Stock Down 3.2%

Shares of NASDAQ LINE opened at $39.39 on Monday. The company has a 50 day simple moving average of $43.16 and a 200-day simple moving average of $49.79. The company has a market capitalization of $9.01 billion and a P/E ratio of -14.12. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.96 and a quick ratio of 0.83. Lineage has a 1 year low of $39.37 and a 1 year high of $88.00.

Lineage (NASDAQ:LINE) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Lineage had a negative net margin of 10.57% and a negative return on equity of 5.76%. The business’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities research analysts predict that Lineage will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, June 30th were issued a $0.5275 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a yield of 5.4%. Lineage’s dividend payout ratio (DPR) is -75.63%.

Insiders Place Their Bets

In other news, insider Sudarsan V. Thattai bought 3,563 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the purchase, the insider owned 7,983 shares in the company, valued at approximately $338,878.35. This trade represents a 80.61% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Kevin Patrick Marchetti bought 23,540 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average price of $42.28 per share, with a total value of $995,271.20. Following the purchase, the chairman owned 62,323 shares of the company’s stock, valued at approximately $2,635,016.44. This represents a 60.70% increase in their position. The disclosure for this purchase can be found here. Company insiders own 71.90% of the company’s stock.

Hedge Funds Weigh In On Lineage

Institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in shares of Lineage by 172.4% during the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after purchasing an additional 362 shares in the last quarter. Signaturefd LLC grew its stake in shares of Lineage by 132.3% during the second quarter. Signaturefd LLC now owns 648 shares of the company’s stock worth $28,000 after purchasing an additional 369 shares in the last quarter. Costello Asset Management INC acquired a new position in shares of Lineage during the first quarter worth $29,000. Allworth Financial LP grew its stake in shares of Lineage by 426.4% during the second quarter. Allworth Financial LP now owns 758 shares of the company’s stock worth $33,000 after purchasing an additional 614 shares in the last quarter. Finally, Salomon & Ludwin LLC acquired a new position in shares of Lineage during the first quarter worth $34,000.

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.