Lineage, Inc. (NASDAQ:LINE) Receives $42.78 Average Price Target from Brokerages

Lineage, Inc. (NASDAQ:LINE) has earned a consensus recommendation of “Reduce” from the twenty-one brokerages that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $42.7778.

A number of equities analysts have commented on the stock. Truist Financial set a $40.00 price objective on shares of Lineage in a report on Monday, December 22nd. Wells Fargo & Company reduced their price target on shares of Lineage from $43.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 25th. Royal Bank Of Canada lowered their price objective on shares of Lineage from $51.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, November 12th. The Goldman Sachs Group dropped their price objective on shares of Lineage from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, November 25th. Finally, Zacks Research upgraded Lineage from a “strong sell” rating to a “hold” rating in a research note on Monday, December 1st.

Lineage Stock Down 2.7%

Shares of Lineage stock opened at $35.08 on Thursday. The business has a 50-day moving average price of $35.34 and a 200 day moving average price of $39.35. Lineage has a fifty-two week low of $32.46 and a fifty-two week high of $62.30. The firm has a market cap of $8.01 billion, a P/E ratio of -44.40 and a beta of -0.19. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.76.

Lineage (NASDAQ:LINE) last released its earnings results on Wednesday, November 5th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the business posted $0.90 EPS. Lineage’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, sell-side analysts forecast that Lineage will post 2.34 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Wednesday, December 31st will be paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date is Wednesday, December 31st. Lineage’s dividend payout ratio is presently -267.09%.

Insider Buying and Selling

In other news, Chairman Kevin Patrick Marchetti acquired 14,500 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average price of $33.72 per share, with a total value of $488,940.00. Following the acquisition, the chairman directly owned 89,168 shares in the company, valued at approximately $3,006,744.96. The trade was a 19.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robb A. Lemasters acquired 30,000 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average price of $33.74 per share, for a total transaction of $1,012,200.00. Following the completion of the transaction, the chief financial officer owned 60,000 shares in the company, valued at $2,024,400. The trade was a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 129,000 shares of company stock valued at $4,366,940 over the last three months. Corporate insiders own 71.90% of the company’s stock.

Institutional Investors Weigh In On Lineage

A number of hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Lineage during the second quarter worth approximately $606,642,000. Darlington Partners Capital Management LP boosted its position in Lineage by 45.5% during the 3rd quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock worth $198,332,000 after acquiring an additional 1,605,810 shares during the period. Capital Research Global Investors boosted its position in Lineage by 4.0% during the 3rd quarter. Capital Research Global Investors now owns 3,152,949 shares of the company’s stock worth $121,830,000 after acquiring an additional 120,616 shares during the period. State Street Corp grew its stake in shares of Lineage by 8.9% in the second quarter. State Street Corp now owns 1,780,270 shares of the company’s stock worth $78,402,000 after purchasing an additional 145,742 shares in the last quarter. Finally, UBS Group AG increased its holdings in shares of Lineage by 107.2% during the third quarter. UBS Group AG now owns 1,358,780 shares of the company’s stock valued at $52,503,000 after purchasing an additional 703,142 shares during the period.

Lineage Company Profile

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.