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

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

A number of analysts have recently issued reports on the company. Weiss Ratings upgraded Lineage from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. UBS Group upped their price objective on shares of Lineage from $35.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, July 17th. Wells Fargo & Company raised their target price on shares of Lineage from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 1st. Piper Sandler dropped their target price on shares of Lineage from $46.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, August 27th. Finally, Truist Financial boosted their price target on shares of Lineage from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th.

Lineage Trading Up 1.9%

Lineage stock opened at $34.98 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.78. Lineage has a fifty-two week low of $31.33 and a fifty-two week high of $45.75. The stock has a market cap of $7.97 billion, a P/E ratio of -48.58 and a beta of 0.86. The firm’s fifty day moving average price is $39.23 and its 200-day moving average price is $39.53.

Lineage (NASDAQ:LINE) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the company earned $0.81 earnings per share. The firm’s quarterly revenue was up .8% on a year-over-year basis. Equities research analysts forecast that Lineage will post 2.5 earnings per share for the current fiscal year.

Lineage Announces Dividend

The business also recently disclosed 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. This represents a $2.13 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Wednesday, September 30th. Lineage’s payout ratio is currently -295.83%.

Insider Buying and Selling at Lineage

In other news, CFO Robb A. Lemasters purchased 20,000 shares of the stock in a transaction on Friday, August 7th. The shares were acquired at an average price of $41.33 per share, for a total transaction of $826,600.00. Following the completion of the transaction, the chief financial officer directly owned 49,500 shares of the company’s stock, valued at approximately $2,045,835. This trade represents a 67.80% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Kevin Marchetti purchased 25,000 shares of the company’s stock in a transaction on Friday, August 28th. The shares were purchased at an average cost of $39.50 per share, with a total value of $987,500.00. Following the purchase, the chairman owned 138,690 shares of the company’s stock, valued at approximately $5,478,255. The trade was a 21.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 71.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lineage

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Lineage in the 2nd quarter worth approximately $227,511,000. Bank of America Corp DE purchased a new stake in shares of Lineage in the 2nd quarter valued at $156,045,000. Bank of New York Mellon Corp bought a new position in shares of Lineage during the 2nd quarter valued at $44,638,000. Canada Pension Plan Investment Board bought a new position in shares of Lineage during the 2nd quarter valued at $41,271,000. Finally, Dimensional Fund Advisors LP raised its position in Lineage by 134.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 876,901 shares of the company’s stock worth $28,721,000 after purchasing an additional 503,021 shares during the period.

About Lineage

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.