Lineage, Inc. (NASDAQ:LINE) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Lineage, Inc. (NASDAQ:LINE) has been assigned a consensus recommendation of “Moderate Buy” from the twenty analysts that are covering the stock, Marketbeat.com reports. Ten analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $67.58.

Several analysts recently weighed in on LINE shares. Piper Sandler decreased their target price on Lineage from $75.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Bank of America downgraded shares of Lineage from a “buy” rating to a “neutral” rating and set a $49.00 price objective on the stock. in a research note on Tuesday, May 6th. Citigroup assumed coverage on shares of Lineage in a research report on Friday, March 28th. They set a “neutral” rating and a $64.00 target price on the stock. UBS Group reduced their price target on shares of Lineage from $62.00 to $49.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Finally, Barclays started coverage on shares of Lineage in a research report on Wednesday, April 9th. They issued an “overweight” rating and a $59.00 price target on the stock.

Lineage Price Performance

Shares of Lineage stock opened at $45.21 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $52.46 and a 200-day simple moving average of $57.22. The stock has a market capitalization of $10.33 billion and a price-to-earnings ratio of -14.04. Lineage has a 1-year low of $42.05 and a 1-year high of $89.85.

Lineage (NASDAQ:LINE) last released its earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts expect that Lineage will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

The business also recently announced 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 of this dividend was Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 4.67%. Lineage’s dividend payout ratio (DPR) is presently -65.53%.

Insider Activity at Lineage

In other news, Chairman Kevin Patrick Marchetti acquired 11,500 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $43.75 per share, with a total value of $503,125.00. Following the completion of the purchase, the chairman now owns 27,733 shares of the company’s stock, valued at $1,213,318.75. This represents a 70.84% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the purchase, the chairman now directly owns 24,317 shares of the company’s stock, valued at approximately $1,471,178.50. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 51,186 shares of company stock valued at $2,666,159 in the last 90 days. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. FIL Ltd bought a new stake in Lineage during the 4th quarter worth approximately $29,000. Costello Asset Management INC bought a new position in Lineage in the 1st quarter valued at $29,000. Salomon & Ludwin LLC acquired a new position in Lineage in the first quarter worth $34,000. PNC Financial Services Group Inc. boosted its stake in Lineage by 170.4% in the first quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock worth $43,000 after purchasing an additional 460 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Lineage during the fourth quarter worth $50,000.

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.