Lineage (NASDAQ:LINE) Given New $38.00 Price Target at Citigroup

Lineage (NASDAQ:LINE) had its price objective trimmed by Citigroup from $39.00 to $38.00 in a report released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

LINE has been the topic of a number of other reports. Morgan Stanley dropped their target price on Lineage from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Monday, September 22nd. The Goldman Sachs Group dropped their price objective on Lineage from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, November 25th. Barclays cut their price objective on Lineage from $51.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. Bank of America reiterated an “underperform” rating and set a $42.00 target price (down previously from $47.00) on shares of Lineage in a research report on Monday, August 11th. Finally, Evercore ISI cut their price target on shares of Lineage from $44.00 to $38.00 and set an “in-line” rating for the company in a report on Monday, November 10th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $44.56.

Lineage Price Performance

NASDAQ:LINE opened at $36.00 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.99 and a quick ratio of 0.86. The company has a 50 day moving average price of $37.69 and a 200-day moving average price of $40.98. Lineage has a 1-year low of $32.46 and a 1-year high of $63.88. The firm has a market cap of $8.22 billion, a price-to-earnings ratio of -45.57 and a beta of -0.16.

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

Lineage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Tuesday, September 30th were paid a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend was Tuesday, September 30th. Lineage’s dividend payout ratio is currently -267.09%.

Insider Transactions at Lineage

In other Lineage news, Chairman Kevin Patrick Marchetti purchased 14,500 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were purchased at an average cost of $33.72 per share, with a total value of $488,940.00. Following the completion of the purchase, the chairman owned 89,168 shares in the company, valued at approximately $3,006,744.96. This represents a 19.42% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Robert Crisci purchased 10,000 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average price of $34.56 per share, for a total transaction of $345,600.00. Following the completion of the transaction, the chief financial officer directly owned 107,859 shares of the company’s stock, valued at $3,727,607.04. The trade was a 10.22% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 129,000 shares of company stock worth $4,366,940. Company insiders own 71.90% of the company’s stock.

Institutional Trading of Lineage

A number of hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Lineage during the 2nd quarter worth approximately $606,642,000. Darlington Partners Capital Management LP lifted its position in Lineage by 45.5% during the third quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock worth $198,332,000 after buying an additional 1,605,810 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Lineage by 75.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,364,697 shares of the company’s stock worth $255,903,000 after buying an additional 1,880,587 shares during the last quarter. Capital Research Global Investors grew its holdings in Lineage by 4.0% in the 3rd quarter. Capital Research Global Investors now owns 3,152,949 shares of the company’s stock valued at $121,830,000 after buying an additional 120,616 shares in the last quarter. Finally, State Street Corp grew its holdings in Lineage by 8.9% in the 2nd quarter. State Street Corp now owns 1,780,270 shares of the company’s stock valued at $78,402,000 after buying an additional 145,742 shares in the last quarter.

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.