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

Lineage, Inc. (NASDAQ:LINE) hit a new 52-week low during mid-day trading on Thursday after Mizuho lowered their price target on the stock from $44.00 to $40.00. Mizuho currently has a neutral rating on the stock. Lineage traded as low as $35.86 and last traded at $36.1150, with a volume of 414217 shares changing hands. The stock had previously closed at $37.88.

Several other research firms have also issued reports on LINE. The Goldman Sachs Group lowered their price target on shares of Lineage from $57.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. JPMorgan Chase & Co. lowered their price objective on shares of Lineage from $44.00 to $43.00 and set an “underweight” rating for the company in a research note on Tuesday, September 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Lineage in a research note on Friday, October 31st. Wells Fargo & Company lowered their price objective on shares of Lineage from $48.00 to $43.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 27th. Finally, UBS Group lowered their price objective on shares of Lineage from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Lineage presently has an average rating of “Reduce” and a consensus target price of $47.33.

Insider Buying and Selling at Lineage

In other Lineage news, Chairman Kevin Patrick Marchetti purchased 12,345 shares of Lineage stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average price of $40.44 per share, with a total value of $499,231.80. Following the transaction, the chairman owned 74,668 shares in the company, valued at $3,019,573.92. This trade represents a 19.81% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sudarsan V. Thattai purchased 3,563 shares of Lineage stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost of $42.45 per share, with a total value of $151,249.35. Following the transaction, the insider owned 7,983 shares in the company, valued at $338,878.35. This trade represents a 80.61% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders purchased 39,448 shares of company stock valued at $1,645,752. 71.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lineage

A number of hedge funds have recently bought and sold shares of the company. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in Lineage by 58.0% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 76,007 shares of the company’s stock worth $2,937,000 after acquiring an additional 27,905 shares during the last quarter. Villere ST Denis J & Co. LLC boosted its holdings in Lineage by 3.4% during the 3rd quarter. Villere ST Denis J & Co. LLC now owns 608,457 shares of the company’s stock worth $23,511,000 after acquiring an additional 19,731 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Lineage by 82.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock worth $25,000 after acquiring an additional 300 shares during the last quarter. Paralel Advisors LLC purchased a new position in Lineage during the 3rd quarter worth $966,000. Finally, Arizona State Retirement System purchased a new position in Lineage during the 3rd quarter worth $783,000.

Lineage Stock Down 6.6%

The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $8.10 billion, a PE ratio of -12.65 and a beta of -0.19. The stock’s fifty day simple moving average is $40.26 and its 200-day simple moving average is $43.08.

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 analysts’ consensus estimates of $0.78 by $0.07. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. Lineage had a negative net margin of 10.57% and a negative return on equity of 5.76%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 EPS. As a group, sell-side analysts forecast that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Tuesday, September 30th were issued a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend was Tuesday, September 30th. Lineage’s payout ratio is -75.63%.

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.