Lineage (NASDAQ:LINE) Price Target Cut to $44.00 by Analysts at Evercore ISI

Lineage (NASDAQ:LINE) had its target price decreased by Evercore ISI from $45.00 to $44.00 in a report released on Monday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

LINE has been the subject of several other reports. JPMorgan Chase & Co. dropped their price target on Lineage from $44.00 to $43.00 and set an “underweight” rating for the company in a research note on Tuesday, September 23rd. BNP Paribas Exane cut shares of Lineage from a “neutral” rating to an “underperform” rating and set a $42.00 target price for the company. in a research note on Thursday, June 12th. Morgan Stanley reduced their price target on shares of Lineage from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Monday, September 22nd. Bank of America reissued an “underperform” rating and set a $42.00 price objective (down previously from $47.00) on shares of Lineage in a report on Monday, August 11th. Finally, UBS Group cut their price objective on Lineage from $49.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, July 23rd. Six research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, Lineage currently has a consensus rating of “Hold” and a consensus target price of $50.06.

Lineage Trading Down 0.2%

Shares of Lineage stock opened at $41.36 on Monday. Lineage has a fifty-two week low of $36.66 and a fifty-two week high of $79.14. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.96. The company has a market capitalization of $9.46 billion, a P/E ratio of -14.82 and a beta of -0.23. The company has a fifty day moving average of $41.03 and a 200 day moving average of $45.50.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.75 by $0.06. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%.The firm’s 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, September 30th. Lineage’s payout ratio is presently -75.63%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Lineage

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in Lineage by 3,141.4% in the 1st quarter. GAMMA Investing LLC now owns 14,716 shares of the company’s stock worth $863,000 after purchasing an additional 14,262 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Lineage in the first quarter worth approximately $1,703,000. Sapient Capital LLC bought a new stake in shares of Lineage during the 1st quarter worth approximately $1,055,000. State of Alaska Department of Revenue boosted its holdings in Lineage by 1.2% during the 1st quarter. State of Alaska Department of Revenue now owns 30,095 shares of the company’s stock valued at $1,764,000 after acquiring an additional 371 shares during the period. Finally, Global X Japan Co. Ltd. purchased a new position in Lineage during the 1st quarter valued at $74,000.

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.