Lineage (NASDAQ:LINE) Sets New 1-Year Low on Analyst Downgrade

Shares of 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 $68.00 to $59.00. Evercore ISI currently has an in-line rating on the stock. Lineage traded as low as $46.50 and last traded at $46.91, with a volume of 608320 shares trading hands. The stock had previously closed at $48.23.

Several other equities research analysts also recently commented on the stock. BNP Paribas began coverage on shares of Lineage in a research report on Tuesday, January 14th. They set a “neutral” rating and a $61.00 target price for the company. Barclays assumed coverage on Lineage in a report on Wednesday, April 9th. They set an “overweight” rating and a $59.00 price objective for the company. Royal Bank of Canada dropped their target price on Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Mizuho decreased their price target on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Piper Sandler lowered their price target on Lineage from $90.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Nine analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $76.32.

Insider Activity at Lineage

In other news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $60.50 per share, for a total transaction of $1,471,178.50. Following the purchase, the chairman now owns 24,317 shares of the company’s stock, valued at approximately $1,471,178.50. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lineage

Several large investors have recently modified their holdings of the business. GAMMA Investing LLC grew its stake in Lineage by 7,466.7% in the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after buying an additional 448 shares in the last quarter. FIL Ltd purchased a new position in shares of Lineage in the fourth quarter valued at $29,000. Salomon & Ludwin LLC purchased a new position in shares of Lineage in the first quarter valued at $34,000. Quarry LP bought a new stake in shares of Lineage during the 4th quarter valued at $50,000. Finally, Global X Japan Co. Ltd. purchased a new stake in Lineage during the 1st quarter worth about $74,000.

Lineage Stock Down 2.1 %

The stock has a fifty day simple moving average of $56.76 and a two-hundred day simple moving average of $60.68. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.

Lineage (NASDAQ:LINE) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.34 billion. The business’s quarterly revenue was down 2.7% on a year-over-year basis. Sell-side analysts expect that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, March 31st were paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 4.47%. The ex-dividend date was Monday, March 31st.

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.