Lineage (NASDAQ:LINE) Given New $40.00 Price Target at Mizuho

Lineage (NASDAQ:LINE) had its price target cut by Mizuho from $44.00 to $40.00 in a research note published on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

LINE has been the topic of several other reports. Wells Fargo & Company cut their price target on shares of Lineage from $48.00 to $43.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 27th. Scotiabank dropped their target price on Lineage from $49.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Friday, September 5th. Piper Sandler reaffirmed a “neutral” rating and set a $41.00 target price (down from $55.00) on shares of Lineage in a research report on Thursday. Weiss Ratings reissued a “sell (e+)” rating on shares of Lineage in a report on Friday, October 31st. Finally, Zacks Research lowered Lineage from a “hold” rating to a “strong sell” rating in a research note on Monday, September 29th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, Lineage currently has an average rating of “Reduce” and an average price target of $47.33.

Lineage Stock Down 3.5%

LINE traded down $1.24 on Thursday, hitting $34.62. The company had a trading volume of 1,605,249 shares, compared to its average volume of 998,517. The stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of -43.82 and a beta of -0.19. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.83 and a current ratio of 0.99. The stock has a fifty day moving average price of $40.00 and a 200-day moving average price of $42.89. Lineage has a 12-month low of $34.22 and a 12-month high of $68.81.

Lineage (NASDAQ:LINE) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. Lineage had a negative net margin of 3.30% and a negative return on equity of 1.85%. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the business earned $0.90 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. Analysts predict that Lineage will post 2.34 EPS for the current fiscal year.

Lineage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders of record on Tuesday, September 30th were given a dividend of $0.5275 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a yield of 6.1%. Lineage’s dividend payout ratio (DPR) is currently -75.63%.

Insider Activity at Lineage

In other Lineage news, Chairman Kevin Patrick Marchetti acquired 12,345 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $40.44 per share, with a total value of $499,231.80. Following the acquisition, the chairman directly owned 74,668 shares of the company’s stock, valued at approximately $3,019,573.92. The trade was a 19.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 71.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LINE. Costello Asset Management INC purchased a new stake in shares of Lineage during the 1st quarter worth about $29,000. EverSource Wealth Advisors LLC raised its holdings in Lineage by 172.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after purchasing an additional 362 shares during the period. Signaturefd LLC boosted its position in Lineage by 132.3% during the second quarter. Signaturefd LLC now owns 648 shares of the company’s stock worth $28,000 after purchasing an additional 369 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Lineage by 82.2% in the third quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock valued at $25,000 after purchasing an additional 300 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Lineage by 170.4% in the first quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock valued at $43,000 after buying an additional 460 shares in the last quarter.

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.