Lineage, Inc. (NASDAQ:LINE) Stock Has Average Target Price of $41.93

Lineage, Inc. (NASDAQ:LINE) has received an average recommendation of “Hold” from the seventeen ratings firms that are covering the stock, MarketBeat Ratings reports. Three equities research 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 price objective among brokers that have issued ratings on the stock in the last year is $41.93.

Several brokerages have recently commented on LINE. Weiss Ratings upgraded Lineage from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. Wells Fargo & Company raised their price objective on Lineage from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, September 1st. Citigroup boosted their target price on Lineage from $42.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Piper Sandler cut their target price on Lineage from $44.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, October 12th. Finally, Evercore set a $43.00 target price on Lineage in a research note on Friday, October 2nd.

Lineage Trading Down 1.8%

Shares of LINE opened at $36.35 on Wednesday. Lineage has a 1-year low of $31.33 and a 1-year high of $45.75. The company has a market capitalization of $8.28 billion, a P/E ratio of -50.49 and a beta of 0.79. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.78 and a quick ratio of 0.70. The firm’s 50 day simple moving average is $36.36 and its 200 day simple moving average is $38.68.

Lineage (NASDAQ:LINE) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.98. Lineage had a negative net margin of 3.15% and a negative return on equity of 1.85%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the company earned $0.81 EPS. The business’s quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts forecast that Lineage will post 2.47 earnings per share for the current fiscal year.

Lineage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 21st. Investors of record on Wednesday, September 30th were given a $0.5325 dividend. This represents a $2.13 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date was Wednesday, September 30th. Lineage’s dividend payout ratio (DPR) is presently -295.83%.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. raised its position in shares of Lineage by 12.1% in the 3rd quarter. Alps Advisors Inc. now owns 6,373 shares of the company’s stock worth $217,000 after acquiring an additional 690 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Lineage during the 3rd quarter valued at about $1,215,000. Root Financial Partners LLC bought a new position in Lineage in the 3rd quarter valued at approximately $49,000. Frank Rimerman Advisors LLC boosted its position in shares of Lineage by 4.5% during the third quarter. Frank Rimerman Advisors LLC now owns 7,984 shares of the company’s stock valued at $272,000 after buying an additional 345 shares during the last quarter. Finally, Wealth Enhancement Trust Services Inc. lifted its position in Lineage by 88.4% during the third quarter. Wealth Enhancement Trust Services Inc. now owns 1,948 shares of the company’s stock valued at $66,000 after purchasing an additional 914 shares during the period.

Lineage Company Profile

Lineage, Inc (NASDAQ:LINE) is a real estate investment trust that owns and operates temperature-controlled warehouses and related cold-chain infrastructure. The company provides storage, handling and logistics services for food and other perishable products, helping customers preserve product quality as goods move from producers and manufacturers to retailers and consumers.

Its services include refrigerated and frozen warehousing, transportation coordination, inventory management, food distribution and supply-chain technology.