Lineage (NASDAQ:LINE) Stock Breaks Above Fifty Day Moving Average – Here’s Why

Lineage, Inc. (NASDAQ:LINE) shares crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $36.45 and traded as high as $37.16. Lineage shares last traded at $37.02, with a volume of 671,936 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank Of Canada increased their target price on Lineage from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, August 17th. Wall Street Zen raised Lineage from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Scotiabank decreased their price objective on Lineage from $44.00 to $39.00 and set a “hold” rating for the company in a research note on Friday, October 2nd. Wells Fargo & Company upped their price objective on Lineage from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 1st. Finally, JPMorgan Chase & Co. dropped their price objective on Lineage from $40.00 to $37.00 and set an “underweight” rating on the stock in a research report on Thursday, October 15th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $41.93.

Lineage Trading Up 2.8%

The company has a market cap of $8.43 billion, a price-to-earnings ratio of -51.42 and a beta of 0.86. The company’s fifty day moving average is $36.45 and its two-hundred day moving average is $38.69. 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 (NASDAQ:LINE) last posted its earnings results on Wednesday, August 5th. The company reported $0.76 EPS for the quarter, topping 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 firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the company earned $0.81 earnings per share. Lineage’s revenue for the quarter was up .8% compared to the same quarter last year. On average, research analysts anticipate that Lineage, Inc. will post 2.47 EPS for the current year.

Lineage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 21st. Investors of record on Wednesday, September 30th were issued a $0.5325 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.13 dividend on an annualized basis and a yield of 5.8%. Lineage’s dividend payout ratio is presently -295.83%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Lineage

Institutional investors have recently added to or reduced their stakes in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Lineage during the third quarter worth approximately $1,215,000. Root Financial Partners LLC acquired a new position in Lineage in the 3rd quarter valued at $49,000. Frank Rimerman Advisors LLC lifted its holdings in Lineage by 4.5% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 7,984 shares of the company’s stock valued at $272,000 after purchasing an additional 345 shares in the last quarter. Wealth Enhancement Trust Services Inc. lifted its holdings in Lineage by 88.4% in the 3rd 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 in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in Lineage in the 2nd quarter valued at $232,000.

About Lineage

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.