Lineage (NASDAQ:LINE) Price Target Lowered to $51.00 at Barclays

Lineage (NASDAQ:LINE) had its price target cut by Barclays from $52.00 to $51.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also commented on the company. Truist Financial cut their price objective on Lineage from $60.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, August 22nd. BNP Paribas Exane lowered Lineage from a “neutral” rating to an “underperform” rating and set a $42.00 price objective on the stock. in a research note on Thursday, June 12th. UBS Group cut their price objective on Lineage from $49.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 23rd. Bank of America reaffirmed an “underperform” rating and issued a $42.00 price objective (down from $47.00) on shares of Lineage in a research note on Monday, August 11th. Finally, KeyCorp reaffirmed a “sector weight” rating and issued a $84.00 price objective on shares of Lineage in a research note on Tuesday, July 1st. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Lineage currently has an average rating of “Hold” and an average price target of $50.72.

Lineage Stock Performance

NASDAQ:LINE opened at $42.46 on Monday. The stock has a market cap of $9.71 billion, a P/E ratio of -15.22 and a beta of -0.22. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72. The stock’s 50-day moving average is $41.86 and its 200-day moving average is $47.58. Lineage has a 1-year low of $38.83 and a 1-year high of $84.86.

Lineage (NASDAQ:LINE) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.06. The company 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% on a year-over-year basis. Equities research analysts anticipate that Lineage will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.5275 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.11 annualized dividend and a yield of 5.0%. Lineage’s dividend payout ratio is -75.63%.

Insiders Place Their Bets

In other news, Chairman Kevin Patrick Marchetti purchased 23,540 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average cost of $42.28 per share, for a total transaction of $995,271.20. Following the completion of the acquisition, the chairman owned 62,323 shares in the company, valued at $2,635,016.44. This trade represents a 60.70% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sudarsan V. Thattai purchased 3,563 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the acquisition, the insider owned 7,983 shares of the company’s stock, valued at $338,878.35. The trade was a 80.61% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 39,448 shares of company stock worth $1,645,752 over the last ninety days. Insiders own 71.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LINE. Ameriprise Financial Inc. boosted its holdings in Lineage by 35.6% during the fourth quarter. Ameriprise Financial Inc. now owns 84,805 shares of the company’s stock worth $4,967,000 after purchasing an additional 22,265 shares during the last quarter. Graham Capital Management L.P. bought a new position in Lineage in the 4th quarter valued at $247,000. Nomura Holdings Inc. bought a new position in Lineage in the 4th quarter valued at $378,000. Nissay Asset Management Corp Japan ADV grew its stake 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 valued at $526,000 after purchasing an additional 340 shares during the period. Finally, Woodline Partners LP grew its position in shares of Lineage by 0.3% during the 4th quarter. Woodline Partners LP now owns 310,899 shares of the company’s stock valued at $18,209,000 after acquiring an additional 899 shares during the period.

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.