Lineage (NASDAQ:LINE) Given “Equal Weight” Rating at Barclays

Barclays reissued their equal weight rating on shares of Lineage (NASDAQ:LINE) in a research report released on Tuesday morning, Marketbeat Ratings reports. Barclays currently has a $38.00 price objective on the stock, down from their prior price objective of $47.00.

Several other analysts have also recently commented on the company. Mizuho dropped their price target on Lineage from $44.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Baird R W lowered Lineage from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 18th. JPMorgan Chase & Co. dropped their target price on shares of Lineage from $43.00 to $38.00 and set an “underweight” rating for the company in a report on Friday, November 14th. Piper Sandler reiterated a “neutral” rating and issued a $41.00 target price (down from $55.00) on shares of Lineage in a research report on Thursday, November 6th. Finally, Evercore ISI decreased their price target on shares of Lineage from $44.00 to $38.00 and set an “in-line” rating on the stock in a research note on Monday, November 10th. Three investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $42.06.

Lineage Stock Down 2.3%

LINE stock opened at $36.32 on Tuesday. Lineage has a 52 week low of $32.46 and a 52 week high of $62.30. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.76. The firm has a 50-day simple moving average of $35.16 and a 200-day simple moving average of $39.07. The stock has a market capitalization of $8.29 billion, a P/E ratio of -45.97 and a beta of -0.19.

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

Lineage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.5275 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.11 annualized dividend and a dividend yield of 5.8%. Lineage’s payout ratio is presently -267.09%.

Insider Activity

In other news, CFO Robb A. Lemasters bought 30,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were bought at an average cost of $33.74 per share, for a total transaction of $1,012,200.00. Following the acquisition, the chief financial officer directly owned 60,000 shares of the company’s stock, valued at $2,024,400. This trade represents a 100.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Kevin Patrick Marchetti purchased 14,500 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were purchased at an average price of $33.72 per share, with a total value of $488,940.00. Following the acquisition, the chairman directly owned 89,168 shares in the company, valued at approximately $3,006,744.96. The trade was a 19.42% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 129,000 shares of company stock worth $4,366,940. Company insiders own 71.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LINE. Norges Bank purchased a new stake in Lineage in the second quarter valued at $606,642,000. Darlington Partners Capital Management LP increased its position in shares of Lineage by 45.5% during the 3rd quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock worth $198,332,000 after purchasing an additional 1,605,810 shares during the last quarter. Capital Research Global Investors increased its position in shares of Lineage by 4.0% during the 3rd quarter. Capital Research Global Investors now owns 3,152,949 shares of the company’s stock worth $121,830,000 after purchasing an additional 120,616 shares during the last quarter. State Street Corp raised 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 during the period. Finally, UBS Group AG lifted its position in Lineage by 107.2% in the third quarter. UBS Group AG now owns 1,358,780 shares of the company’s stock valued at $52,503,000 after buying an additional 703,142 shares during the last quarter.

Lineage Company Profile

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.