Lineage, Inc. (NASDAQ:LINE) Receives $50.50 Average Price Target from Brokerages

Lineage, Inc. (NASDAQ:LINE) has been assigned an average recommendation of “Hold” from the eighteen research firms that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $50.1111.

A number of brokerages recently issued reports on LINE. Truist Financial dropped their price target on shares of Lineage from $60.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, August 22nd. Scotiabank dropped their target price on shares of Lineage from $49.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Friday, September 5th. Robert W. Baird cut their price target on shares of Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, August 13th. Morgan Stanley decreased their price objective on shares of Lineage from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Monday, September 22nd. Finally, The Goldman Sachs Group cut their target price on Lineage from $57.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, August 12th.

Insider Activity

In related news, Chairman Kevin Patrick Marchetti acquired 23,540 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was purchased at an average cost of $42.28 per share, with a total value of $995,271.20. Following the completion of the acquisition, the chairman directly owned 62,323 shares of the company’s stock, valued at approximately $2,635,016.44. This trade represents a 60.70% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sudarsan V. Thattai bought 3,563 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the acquisition, the insider directly owned 7,983 shares of the company’s stock, valued at $338,878.35. The trade was a 80.61% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 39,448 shares of company stock worth $1,645,752 in the last 90 days. Company insiders own 71.90% of the company’s stock.

Hedge Funds Weigh In On Lineage

Several hedge funds and other institutional investors have recently modified their holdings of LINE. Norges Bank bought a new stake in Lineage during the second quarter valued at approximately $606,642,000. Price T Rowe Associates Inc. MD boosted its stake 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 worth $255,903,000 after acquiring an additional 1,880,587 shares during the last quarter. Nuveen LLC bought a new stake in shares of Lineage during the 1st quarter valued at $37,468,000. Lunate Capital Ltd purchased a new stake in shares of Lineage in the 1st quarter worth $35,178,000. Finally, Evergreen Capital Management LLC purchased a new stake in shares of Lineage in the 2nd quarter worth $13,501,000.

Lineage Stock Up 2.0%

LINE stock opened at $39.01 on Tuesday. Lineage has a twelve month low of $36.66 and a twelve month high of $79.66. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 0.72. The firm has a market cap of $8.92 billion, a PE ratio of -13.98 and a beta of -0.22. The business has a 50 day moving average of $41.37 and a 200 day moving average of $46.19.

Lineage (NASDAQ:LINE) last released its earnings results on Wednesday, August 6th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.75 by $0.06. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%.The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. Lineage’s revenue for the quarter was up .9% compared to the same quarter last year. On average, research analysts forecast that Lineage will post 2.34 EPS for the current fiscal year.

Lineage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Tuesday, September 30th will be issued a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 5.4%. The ex-dividend date is Tuesday, September 30th. Lineage’s dividend payout ratio (DPR) is presently -75.63%.

Lineage Company Profile

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.