Lineage (NASDAQ:LINE) Price Target Cut to $35.00 by Analysts at Piper Sandler

Lineage (NASDAQ:LINE) had its price target reduced by Piper Sandler from $43.00 to $35.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other research firms have also recently commented on LINE. Compass Point began coverage on shares of Lineage in a research note on Wednesday, March 18th. They issued a “buy” rating and a $47.00 target price for the company. Royal Bank Of Canada increased their price target on shares of Lineage from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Wells Fargo & Company raised their price objective on shares of Lineage from $32.00 to $39.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. UBS Group lowered their price objective on Lineage from $41.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Finally, Zacks Research upgraded Lineage from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $43.28.

Lineage Price Performance

Lineage stock opened at $32.78 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.80 and a quick ratio of 0.71. The business has a 50 day simple moving average of $37.22 and a 200-day simple moving average of $37.17. Lineage has a 12 month low of $31.33 and a 12 month high of $58.86. The stock has a market capitalization of $7.44 billion, a PE ratio of -76.23 and a beta of 0.11.

Lineage (NASDAQ:LINE) last posted its quarterly earnings data 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). The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Lineage had a negative net margin of 1.87% and a negative return on equity of 1.06%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the business earned $0.83 earnings per share. Equities analysts predict that Lineage will post 2.34 earnings per share for the current year.

Lineage Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 21st. Stockholders of record on Tuesday, March 31st will be issued a $0.5325 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.13 dividend on an annualized basis and a dividend yield of 6.5%. This is a boost from Lineage’s previous quarterly dividend of $0.53. Lineage’s payout ratio is -495.35%.

Insider Activity at Lineage

In related news, Chairman Kevin Patrick Marchetti acquired 13,300 shares of Lineage stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average price of $37.50 per share, for a total transaction of $498,750.00. Following the completion of the purchase, the chairman directly owned 113,690 shares of the company’s stock, valued at approximately $4,263,375. This trade represents a 13.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 71.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp lifted its position in shares of Lineage by 82.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock valued at $25,000 after acquiring an additional 300 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Lineage by 172.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after acquiring an additional 362 shares during the period. Rothschild Investment LLC grew its holdings in shares of Lineage by 575.2% in the 4th quarter. Rothschild Investment LLC now owns 736 shares of the company’s stock worth $26,000 after acquiring an additional 627 shares during the period. Caitlin John LLC purchased a new position in Lineage in the 3rd quarter valued at approximately $31,000. Finally, Allworth Financial LP increased its stake in Lineage by 106.6% in the 4th quarter. Allworth Financial LP now owns 940 shares of the company’s stock valued at $33,000 after purchasing an additional 485 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.