Citigroup Lowers Lineage (NASDAQ:LINE) Price Target to $49.00

Lineage (NASDAQ:LINE) had its price target decreased by Citigroup from $64.00 to $49.00 in a research report released on Thursday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Other equities research analysts also recently issued reports about the company. Barclays began coverage on Lineage in a report on Wednesday, April 9th. They set an “overweight” rating and a $59.00 target price for the company. Bank of America downgraded Lineage from a “buy” rating to a “neutral” rating and set a $49.00 price objective on the stock. in a report on Tuesday, May 6th. Piper Sandler reduced their price objective on shares of Lineage from $75.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Wells Fargo & Company dropped their target price on shares of Lineage from $64.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Monday, May 19th. Finally, BNP Paribas Exane lowered shares of Lineage from a “neutral” rating to an “underperform” rating and set a $42.00 price target on the stock. in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $65.55.

Lineage Stock Down 3.9%

LINE stock opened at $43.65 on Thursday. Lineage has a 12 month low of $41.88 and a 12 month high of $89.85. The firm has a market cap of $9.98 billion and a PE ratio of -13.56. The firm has a 50 day simple moving average of $48.52 and a 200 day simple moving average of $55.16. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95.

Lineage (NASDAQ:LINE) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.34 billion. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. Equities research analysts forecast that Lineage will post 2.34 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were issued a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 4.83%. The ex-dividend date was Monday, March 31st. Lineage’s dividend payout ratio is currently -65.53%.

Insider Transactions at Lineage

In other Lineage news, Chairman Kevin Patrick Marchetti acquired 11,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average price of $43.75 per share, with a total value of $503,125.00. Following the completion of the transaction, the chairman now owns 27,733 shares in the company, valued at $1,213,318.75. The trade was a 70.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Adam Matthew Schwartz Forste bought 10,949 shares of Lineage stock in a transaction on Thursday, May 8th. The stock was acquired at an average price of $44.93 per share, with a total value of $491,938.57. Following the completion of the purchase, the chairman now directly owns 35,266 shares of the company’s stock, valued at approximately $1,584,501.38. The trade was a 45.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 26,869 shares of company stock valued at $1,194,980. 71.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in Lineage in the fourth quarter worth $681,572,000. Vanguard Group Inc. boosted its stake in shares of Lineage by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company’s stock worth $562,003,000 after acquiring an additional 408,526 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Lineage by 75.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,364,697 shares of the company’s stock valued at $255,903,000 after acquiring an additional 1,880,587 shares during the last quarter. D1 Capital Partners L.P. increased its holdings in shares of Lineage by 257.5% during the 4th quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company’s stock valued at $219,848,000 after acquiring an additional 2,703,598 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Lineage by 92.1% in the 4th quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company’s stock valued at $189,380,000 after acquiring an additional 1,550,478 shares in the last quarter.

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.