Lineage, Inc. (NASDAQ:LINE) Stock Has Consensus Price Target of $43.73

Lineage, Inc. (NASDAQ:LINE) has received an average rating of “Hold” from the seventeen brokerages that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $43.73.

LINE has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on Lineage from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 1st. Truist Financial boosted their target price on shares of Lineage from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Royal Bank Of Canada increased their target price on shares of Lineage from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, August 17th. Wall Street Zen upgraded shares of Lineage from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Mizuho raised shares of Lineage from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $40.00 to $47.00 in a report on Tuesday, July 28th.

Lineage Stock Down 0.0%

Shares of Lineage stock opened at $34.43 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 0.84. The firm has a market cap of $7.84 billion, a P/E ratio of -47.82 and a beta of 0.86. Lineage has a fifty-two week low of $31.33 and a fifty-two week high of $45.75. The business has a 50-day moving average price of $38.54 and a 200 day moving average price of $39.45.

Lineage (NASDAQ:LINE) last released its earnings results on Wednesday, August 5th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.98. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the business posted $0.81 EPS. Lineage’s quarterly revenue was up .8% compared to the same quarter last year. On average, sell-side analysts forecast that Lineage will post 2.50 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.5325 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.13 annualized dividend and a dividend yield of 6.2%. Lineage’s dividend payout ratio is -295.83%.

Insider Buying and Selling

In related news, CFO Robb LeMasters purchased 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average price of $41.33 per share, with a total value of $826,600.00. Following the acquisition, the chief financial officer owned 49,500 shares in the company, valued at approximately $2,045,835. This trade represents a 67.80% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Kevin Marchetti purchased 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was bought at an average cost of $39.50 per share, for a total transaction of $987,500.00. Following the acquisition, the chairman owned 138,690 shares in the company, valued at approximately $5,478,255. The trade was a 21.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 71.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lineage

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Lineage in the 2nd quarter worth approximately $227,511,000. Bank of America Corp DE acquired a new stake in shares of Lineage in the second quarter valued at $156,045,000. Bank of New York Mellon Corp acquired a new stake in shares of Lineage in the second quarter valued at $44,638,000. Canada Pension Plan Investment Board bought a new position in Lineage during the second quarter valued at about $41,271,000. Finally, Dimensional Fund Advisors LP boosted its stake in Lineage by 134.5% during the first quarter. Dimensional Fund Advisors LP now owns 876,901 shares of the company’s stock valued at $28,721,000 after buying an additional 503,021 shares in the last quarter.

Lineage Company Profile

Lineage, Inc is a global temperature-controlled industrial real estate and logistics company. It owns, operates and develops cold-storage facilities that help preserve and move perishable food products, including meat, seafood, dairy, fruits, vegetables and prepared foods.

The company provides a range of supply-chain services in addition to refrigerated and frozen warehousing. These services include transportation, distribution, port and rail logistics, food processing support, inventory management and other technology-enabled solutions designed to improve the efficiency and reliability of the food supply chain.

Lineage serves customers across North America, Europe and the Asia-Pacific region, with facilities located near major transportation hubs, ports and population centers.