Lineage (NASDAQ:LINE) Sets New 1-Year Low on Analyst Downgrade

Lineage, Inc. (NASDAQ:LINE)’s stock price reached a new 52-week low on Wednesday after Scotiabank lowered their price target on the stock from $42.00 to $37.00. Scotiabank currently has a sector perform rating on the stock. Lineage traded as low as $33.13 and last traded at $33.28, with a volume of 1038740 shares. The stock had previously closed at $34.55.

A number of other equities analysts also recently commented on LINE. Piper Sandler reissued a “neutral” rating and issued a $41.00 price objective (down previously from $55.00) on shares of Lineage in a research note on Thursday, November 6th. Barclays lowered their price target on shares of Lineage from $51.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. Morgan Stanley decreased their price objective on Lineage from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Monday, September 22nd. Mizuho dropped their target price on Lineage from $44.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Finally, UBS Group decreased their price target on Lineage from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $46.33.

Insider Buying and Selling at Lineage

In related news, Chairman Kevin Patrick Marchetti bought 12,345 shares of the stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $40.44 per share, for a total transaction of $499,231.80. Following the completion of the purchase, the chairman directly owned 74,668 shares of the company’s stock, valued at $3,019,573.92. This represents a 19.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Crisci bought 10,000 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were purchased at an average cost of $34.56 per share, with a total value of $345,600.00. Following the completion of the acquisition, the chief financial officer owned 107,859 shares in the company, valued at approximately $3,727,607.04. This represents a 10.22% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 71.90% of the company’s stock.

Institutional Investors Weigh In On Lineage

A number of institutional investors have recently modified their holdings of LINE. Bank of New York Mellon Corp lifted its position in shares of Lineage by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 269,663 shares of the company’s stock valued at $15,810,000 after acquiring an additional 2,879 shares in the last quarter. M&T Bank Corp grew its holdings in shares of Lineage by 174.5% during the first quarter. M&T Bank Corp now owns 13,690 shares of the company’s stock worth $803,000 after buying an additional 8,703 shares in the last quarter. Ballentine Partners LLC purchased a new position in shares of Lineage in the first quarter worth about $218,000. CWM LLC boosted its position in Lineage by 3,508.2% during the first quarter. CWM LLC now owns 2,634 shares of the company’s stock worth $154,000 after acquiring an additional 2,561 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Lineage during the 1st quarter valued at about $269,000.

Lineage Stock Performance

The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.76. The stock’s fifty day simple moving average is $39.71 and its 200 day simple moving average is $42.39. The company has a market cap of $7.61 billion, a price-to-earnings ratio of -42.13 and a beta of -0.19.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.30%.The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the business posted $0.90 earnings per share. The firm’s revenue was up 3.1% compared to the same quarter last year. As a group, analysts anticipate that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.5275 per share. The ex-dividend date was Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 6.3%. Lineage’s dividend payout ratio (DPR) is currently -267.09%.

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.