Lineage, Inc. (NASDAQ:LINE) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Lineage, Inc. (NASDAQ:LINE) have received a consensus recommendation of “Moderate Buy” from the twenty ratings firms that are currently covering the firm, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $74.26.

A number of equities analysts have issued reports on the stock. Piper Sandler reduced their price objective on shares of Lineage from $90.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. UBS Group dropped their price objective on Lineage from $62.00 to $49.00 and set a “neutral” rating for the company in a report on Friday. Mizuho reduced their target price on Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Scotiabank restated a “sector perform” rating and set a $56.00 target price (down from $74.00) on shares of Lineage in a research report on Thursday, April 10th. Finally, BNP Paribas started coverage on shares of Lineage in a research note on Tuesday, January 14th. They set a “neutral” rating and a $61.00 price objective on the stock.

Lineage Price Performance

LINE opened at $45.28 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. The company’s 50 day simple moving average is $56.55 and its 200-day simple moving average is $60.46. Lineage has a one year low of $44.95 and a one year high of $89.85.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.34 billion. Lineage’s revenue was down 2.7% on a year-over-year basis. Sell-side analysts anticipate that Lineage 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 Monday, April 21st. Investors of record on Monday, March 31st were given a dividend of $0.5275 per share. The ex-dividend date was Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 4.66%.

Insiders Place Their Bets

In other news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were bought at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the acquisition, the chairman now owns 24,317 shares in the company, valued at $1,471,178.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in Lineage by 7,466.7% during the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $27,000 after purchasing an additional 448 shares during the period. FIL Ltd acquired a new position in Lineage in the 4th quarter valued at about $29,000. Salomon & Ludwin LLC acquired a new stake in Lineage during the first quarter worth approximately $34,000. Quarry LP bought a new stake in shares of Lineage during the fourth quarter worth approximately $50,000. Finally, Global X Japan Co. Ltd. acquired a new position in shares of Lineage in the first quarter valued at approximately $74,000.

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.