Lineage (NASDAQ:LINE) Reaches New 1-Year Low – Here’s Why

Shares of Lineage, Inc. (NASDAQ:LINE) hit a new 52-week low on Wednesday . The company traded as low as $32.61 and last traded at $32.5240, with a volume of 221981 shares traded. The stock had previously closed at $33.66.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LINE. Mizuho cut their price target on shares of Lineage from $44.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Zacks Research cut Lineage from a “hold” rating to a “strong sell” rating in a research note on Monday, September 29th. JPMorgan Chase & Co. decreased their price objective on shares of Lineage from $43.00 to $38.00 and set an “underweight” rating for the company in a report on Friday, November 14th. Morgan Stanley lowered their target price on shares of Lineage from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Monday, September 22nd. Finally, Scotiabank cut their price objective on Lineage from $42.00 to $37.00 and set a “sector perform” rating for the company in a report on Wednesday, November 12th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $46.06.

Lineage Stock Performance

The business’s fifty day simple moving average is $38.62 and its 200-day simple moving average is $41.67. The company has a market capitalization of $7.83 billion, a P/E ratio of -43.42 and a beta of -0.19. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.86 and a current ratio of 0.99.

Lineage (NASDAQ:LINE) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.07. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.30%.The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the business posted $0.90 EPS. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, equities analysts anticipate that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders of record on Tuesday, September 30th were given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 6.2%. The ex-dividend date was Tuesday, September 30th. Lineage’s payout ratio is -267.09%.

Insiders Place Their Bets

In other news, Chairman Adam Matthew Schwartz Forste purchased 74,000 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were purchased at an average price of $33.83 per share, for a total transaction of $2,503,420.00. Following the completion of the purchase, the chairman owned 109,266 shares in the company, valued at approximately $3,696,468.78. This represents a 209.83% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Kevin Patrick Marchetti acquired 14,500 shares of Lineage stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average cost of $33.72 per share, with a total value of $488,940.00. Following the purchase, the chairman directly owned 89,168 shares of the company’s stock, valued at $3,006,744.96. This represents a 19.42% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 128,500 shares of company stock worth $4,350,160 in the last 90 days. 71.90% of the stock is owned by insiders.

Institutional Trading of Lineage

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp boosted its stake in Lineage by 82.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock worth $25,000 after purchasing an additional 300 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Lineage by 172.4% in the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after buying an additional 362 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Lineage by 132.3% in the second quarter. Signaturefd LLC now owns 648 shares of the company’s stock worth $28,000 after buying an additional 369 shares during the last quarter. Costello Asset Management INC acquired a new stake in shares of Lineage during the first quarter worth $29,000. Finally, Caitlin John LLC purchased a new stake in shares of Lineage during the third quarter valued at $31,000.

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.