Lineage (NASDAQ:LINE) Price Target Lowered to $43.00 at Wells Fargo & Company

Lineage (NASDAQ:LINE) had its target price decreased by Wells Fargo & Company from $48.00 to $43.00 in a research note published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other research firms have also recently issued reports on LINE. UBS Group cut their target price on Lineage from $49.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 23rd. Piper Sandler lowered their price objective 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. Citigroup lowered their price objective on shares of Lineage from $64.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, June 12th. BNP Paribas set a $42.00 target price on shares of Lineage in a report on Thursday, June 12th. Finally, JPMorgan Chase & Co. lowered shares of Lineage from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $55.00 to $50.00 in a report on Monday, June 23rd. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $53.26.

Lineage Stock Up 2.6%

Shares of NASDAQ:LINE opened at $41.77 on Wednesday. The stock’s 50-day moving average price is $42.58 and its 200-day moving average price is $49.04. Lineage has a 12-month low of $38.83 and a 12-month high of $85.48. The stock has a market capitalization of $9.56 billion and a P/E ratio of -14.97. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%.Lineage’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts anticipate 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. Shareholders of record on Monday, June 30th were given a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend was Monday, June 30th. Lineage’s payout ratio is -75.63%.

Insiders Place Their Bets

In other Lineage news, insider Sudarsan V. Thattai acquired 3,563 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was purchased at an average price of $42.45 per share, with a total value of $151,249.35. Following the transaction, the insider directly owned 7,983 shares in the company, valued at approximately $338,878.35. The trade was a 80.61% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Kevin Patrick Marchetti bought 12,345 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average price of $40.44 per share, for a total transaction of $499,231.80. Following the purchase, the chairman owned 74,668 shares in the company, valued at $3,019,573.92. This represents a 19.81% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 39,448 shares of company stock valued at $1,645,752. Insiders own 71.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Norges Bank bought a new stake in shares of Lineage in the second quarter worth about $606,642,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Lineage by 75.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,364,697 shares of the company’s stock worth $255,903,000 after purchasing an additional 1,880,587 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Lineage by 92.1% during the 4th quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company’s stock valued at $189,380,000 after buying an additional 1,550,478 shares in the last quarter. Darlington Partners Capital Management LP purchased a new stake in shares of Lineage during the 4th quarter valued at about $90,491,000. Finally, Nuveen LLC purchased a new stake in shares of Lineage during the 1st quarter valued at about $37,468,000.

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.