Lineage (NASDAQ:LINE) Upgraded at Zacks Research

Zacks Research upgraded shares of Lineage (NASDAQ:LINE) from a strong sell rating to a hold rating in a research report report published on Monday,Zacks.com reports.

Several other brokerages also recently weighed in on LINE. Royal Bank Of Canada dropped their target price on Lineage from $51.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 12th. JPMorgan Chase & Co. dropped their price target on Lineage from $43.00 to $38.00 and set an “underweight” rating on the stock in a research note on Friday, November 14th. The Goldman Sachs Group decreased their price objective on shares of Lineage from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, November 25th. Wells Fargo & Company lowered their target price on shares of Lineage from $43.00 to $32.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 25th. Finally, Bank of America restated an “underperform” rating and set a $42.00 price target (down previously from $47.00) on shares of Lineage in a research note on Monday, August 11th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $45.17.

Lineage Stock Up 0.7%

NASDAQ:LINE opened at $36.35 on Monday. The company’s 50-day simple moving average is $37.72 and its 200-day simple moving average is $41.01. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.86 and a current ratio of 0.99. Lineage has a fifty-two week low of $32.46 and a fifty-two week high of $63.88. The stock has a market capitalization of $8.30 billion, a P/E ratio of -46.01 and a beta of -0.16.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, November 5th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. Lineage had a negative net margin of 3.30% and a negative return on equity of 1.85%. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. Lineage’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities analysts anticipate that Lineage will post 2.34 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders of record on Tuesday, September 30th were issued a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Tuesday, September 30th. Lineage’s dividend payout ratio (DPR) is presently -267.09%.

Insiders Place Their Bets

In other Lineage news, CFO Robert Crisci bought 10,000 shares of Lineage stock in a transaction dated Friday, November 7th. The stock was acquired at an average cost of $34.56 per share, with a total value of $345,600.00. Following the purchase, the chief financial officer directly owned 107,859 shares in the company, valued at $3,727,607.04. This represents a 10.22% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robb A. Lemasters purchased 30,000 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was bought at an average cost of $33.74 per share, with a total value of $1,012,200.00. Following the acquisition, the chief financial officer owned 60,000 shares in the company, valued at $2,024,400. This represents a 100.00% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 129,000 shares of company stock valued at $4,366,940. Corporate insiders own 71.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LINE. Jones Financial Companies Lllp boosted its holdings in Lineage by 82.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock worth $25,000 after buying an additional 300 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Lineage by 172.4% in the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after acquiring an additional 362 shares in the last quarter. Signaturefd LLC lifted its position in shares of Lineage by 132.3% in the second quarter. Signaturefd LLC now owns 648 shares of the company’s stock valued at $28,000 after acquiring an additional 369 shares in the last quarter. Costello Asset Management INC acquired a new stake in shares of Lineage in the first quarter worth approximately $29,000. Finally, Caitlin John LLC purchased a new stake in shares of Lineage during the third quarter worth approximately $31,000.

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.