Analysts Set Lineage, Inc. (NASDAQ:LINE) Target Price at $47.00

Shares of Lineage, Inc. (NASDAQ:LINE) have been assigned an average rating of “Reduce” from the twenty brokerages that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $46.0556.

LINE has been the subject of several research reports. Scotiabank lowered their price objective on shares of Lineage from $42.00 to $37.00 and set a “sector perform” rating for the company in a research report on Wednesday. Mizuho decreased their target price on shares of Lineage from $44.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Robert W. Baird dropped their price target on Lineage from $64.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, August 13th. Evercore ISI reduced their price objective on Lineage from $44.00 to $38.00 and set an “in-line” rating on the stock in a research note on Monday, November 10th. Finally, Bank of America restated an “underperform” rating and set a $42.00 price objective (down from $47.00) on shares of Lineage in a research report on Monday, August 11th.

Lineage Trading Up 0.1%

Shares of LINE stock opened at $33.41 on Wednesday. The stock’s 50-day moving average price is $39.27 and its 200-day moving average price is $42.11. Lineage has a 12-month low of $32.65 and a 12-month high of $66.38. The stock has a market capitalization of $7.63 billion, a price-to-earnings ratio of -42.29 and a beta of -0.19. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.76.

Lineage (NASDAQ:LINE) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.30%.The company’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS. Equities research analysts predict that Lineage will post 2.34 EPS for the current fiscal year.

Lineage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Tuesday, September 30th were issued a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 6.3%. The ex-dividend date was Tuesday, September 30th. Lineage’s dividend payout ratio is presently -267.09%.

Insider Buying and Selling

In other news, CFO Robert Crisci acquired 10,000 shares of the company’s stock in a transaction on Friday, November 7th. The stock was bought at an average cost of $34.56 per share, with a total value of $345,600.00. Following the completion of the purchase, the chief financial officer directly owned 107,859 shares of the company’s stock, valued at $3,727,607.04. This represents a 10.22% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Kevin Patrick Marchetti acquired 14,500 shares of the business’s stock in a transaction on Monday, November 10th. The shares were purchased at an average price of $33.72 per share, for a total transaction of $488,940.00. Following the transaction, the chairman directly owned 89,168 shares of the company’s stock, valued at approximately $3,006,744.96. The trade was a 19.42% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 110,845 shares of company stock worth $3,837,192 over the last three months. 71.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. grew its stake in Lineage by 1,396.7% in the 1st quarter. American Century Companies Inc. now owns 230,847 shares of the company’s stock worth $13,535,000 after acquiring an additional 215,423 shares in the last quarter. XTX Topco Ltd raised its stake in shares of Lineage by 419.2% during the first quarter. XTX Topco Ltd now owns 30,733 shares of the company’s stock valued at $1,802,000 after acquiring an additional 24,814 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Lineage by 8.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 566,040 shares of the company’s stock valued at $33,187,000 after purchasing an additional 43,242 shares during the period. Nuveen LLC bought a new position in Lineage in the first quarter worth approximately $37,468,000. Finally, Galvin Gaustad & Stein LLC grew its stake in Lineage by 20.9% in the first quarter. Galvin Gaustad & Stein LLC now owns 192,786 shares of the company’s stock worth $11,303,000 after purchasing an additional 33,360 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.