Lineage (NASDAQ:LINE) Now Covered by Compass Point

Compass Point initiated coverage on shares of Lineage (NASDAQ:LINE) in a report published on Wednesday, MarketBeat reports. The firm issued a buy rating and a $47.00 price target on the stock.

Other equities analysts also recently issued research reports about the company. Zacks Research upgraded Lineage from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Robert W. Baird reissued a “neutral” rating and issued a $39.00 target price (down from $45.00) on shares of Lineage in a research report on Thursday, December 18th. Truist Financial boosted their target price on Lineage from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Citigroup upped their price target on Lineage from $38.00 to $42.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Finally, UBS Group cut their price target on Lineage from $41.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Five equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $43.39.

Lineage Stock Performance

NASDAQ LINE opened at $37.82 on Wednesday. The company has a market capitalization of $8.59 billion, a PE ratio of -87.95 and a beta of -0.42. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.71 and a current ratio of 0.80. Lineage has a 52-week low of $32.46 and a 52-week high of $60.96. The company has a 50-day simple moving average of $37.69 and a 200 day simple moving average of $37.68.

Lineage (NASDAQ:LINE) last released its earnings results on Wednesday, February 25th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.70). Lineage had a negative net margin of 1.87% and a negative return on equity of 1.06%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The firm’s revenue was down .2% compared to the same quarter last year. On average, research analysts predict that Lineage will post 2.34 EPS for the current year.

Lineage Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 21st. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.5325 per share. This represents a $2.13 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from Lineage’s previous quarterly dividend of $0.53. Lineage’s payout ratio is presently -490.70%.

Insider Activity

In related news, Chairman Kevin Patrick Marchetti purchased 13,300 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was purchased at an average cost of $37.50 per share, with a total value of $498,750.00. Following the completion of the acquisition, the chairman directly owned 113,690 shares of the company’s stock, valued at approximately $4,263,375. The trade was a 13.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 71.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Lineage

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in Lineage by 15.2% in the 1st quarter. Royal Bank of Canada now owns 4,956 shares of the company’s stock worth $290,000 after purchasing an additional 653 shares during the period. AQR Capital Management LLC purchased a new position in Lineage during the 1st quarter valued at about $886,000. Millennium Management LLC increased its position in shares of Lineage by 197.0% during the first quarter. Millennium Management LLC now owns 288,518 shares of the company’s stock valued at $16,916,000 after buying an additional 191,362 shares during the period. Bank of Montreal Can purchased a new stake in shares of Lineage in the second quarter worth about $300,000. Finally, Allworth Financial LP lifted its holdings in shares of Lineage by 426.4% in the second quarter. Allworth Financial LP now owns 758 shares of the company’s stock worth $33,000 after buying an additional 614 shares in the last quarter.

About Lineage

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.