Lineage, Inc. (NASDAQ:LINE) Receives $50.50 Consensus PT from Analysts

Lineage, Inc. (NASDAQ:LINE) has been assigned an average recommendation of “Hold” from the eighteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $50.1111.

LINE has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Lineage from $44.00 to $43.00 and set an “underweight” rating for the company in a report on Tuesday. Morgan Stanley decreased their price target on Lineage from $50.00 to $46.00 and set an “equal weight” rating for the company in a research note on Monday. KeyCorp reaffirmed a “sector weight” rating and set a $84.00 target price on shares of Lineage in a research note on Tuesday, July 1st. Royal Bank Of Canada decreased their target price on Lineage from $64.00 to $51.00 and set an “outperform” rating for the company in a research note on Monday, August 18th. Finally, Scotiabank reduced their price objective on shares of Lineage from $49.00 to $43.00 and set a “sector perform” rating for the company in a research report on Friday, September 5th.

Lineage Stock Performance

Shares of LINE opened at $37.50 on Tuesday. The firm has a 50-day moving average price of $41.50 and a 200 day moving average price of $46.61. The firm has a market capitalization of $8.58 billion, a PE ratio of -13.44 and a beta of -0.22. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 0.72. Lineage has a 52-week low of $36.66 and a 52-week high of $80.69.

Lineage (NASDAQ:LINE) last announced its earnings results 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 during the quarter, compared to analyst estimates 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, sell-side analysts anticipate that Lineage will post 2.34 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The firm also recently announced 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. This represents a $2.11 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Tuesday, September 30th. Lineage’s dividend payout ratio (DPR) is presently -75.63%.

Insider Buying and Selling at Lineage

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

Hedge Funds Weigh In On Lineage

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. boosted its holdings in shares of Lineage by 155.1% in the second quarter. Osaic Holdings Inc. now owns 17,605 shares of the company’s stock worth $767,000 after buying an additional 10,703 shares during the period. Squarepoint Ops LLC lifted its position in shares of Lineage by 118.0% in the 2nd quarter. Squarepoint Ops LLC now owns 65,210 shares of the company’s stock valued at $2,838,000 after acquiring an additional 35,294 shares in the last quarter. Evergreen Capital Management LLC purchased a new stake in shares of Lineage in the 2nd quarter valued at approximately $13,501,000. Tower Research Capital LLC TRC lifted its position in shares of Lineage by 69.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,427 shares of the company’s stock valued at $149,000 after acquiring an additional 1,401 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of Lineage by 590.5% in the 2nd quarter. Corient Private Wealth LLC now owns 88,680 shares of the company’s stock valued at $3,859,000 after acquiring an additional 75,838 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.