Lineage (NASDAQ:LINE) Sets New 52-Week Low on Analyst Downgrade

Lineage, Inc. (NASDAQ:LINE) hit a new 52-week low during trading on Thursday after Evercore ISI lowered their price target on the stock from $88.00 to $78.00. Evercore ISI currently has an in-line rating on the stock. Lineage traded as low as $67.12 and last traded at $67.12, with a volume of 58041 shares. The stock had previously closed at $67.80.

A number of other analysts have also commented on LINE. JPMorgan Chase & Co. began coverage on Lineage in a research note on Monday, August 19th. They issued an “overweight” rating and a $93.00 price target for the company. Morgan Stanley initiated coverage on shares of Lineage in a report on Monday, August 19th. They issued an “overweight” rating and a $100.00 price objective on the stock. UBS Group began coverage on Lineage in a research note on Monday, August 19th. They set a “neutral” rating and a $88.00 price objective for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Lineage in a report on Monday, August 19th. They issued a “hold” rating and a $90.00 target price on the stock. Finally, Robert W. Baird initiated coverage on Lineage in a report on Monday, August 19th. They set an “outperform” rating and a $91.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Lineage has a consensus rating of “Moderate Buy” and a consensus target price of $92.88.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC purchased a new position in shares of Lineage in the third quarter valued at about $23,893,000. abrdn plc bought a new position in Lineage during the third quarter valued at $1,000,000. Seven Grand Managers LLC bought a new position in shares of Lineage in the 3rd quarter valued at about $24,298,000. SG Americas Securities LLC purchased a new position in shares of Lineage in the 3rd quarter worth approximately $658,000. Finally, Vontobel Holding Ltd. bought a new position in shares of Lineage during the 3rd quarter valued at approximately $1,026,000.

Lineage Trading Down 1.0 %

The stock’s fifty day simple moving average is $78.32. The company has a quick ratio of 0.95, a current ratio of 1.10 and a debt-to-equity ratio of 1.93.

Lineage Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Monday, October 21st. Investors of record on Monday, September 30th were issued a dividend of $0.38 per share. The ex-dividend date was Monday, September 30th.

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.