Lineage (NASDAQ:LINE) Sets New 1-Year Low – Here’s Why

Lineage, Inc. (NASDAQ:LINE)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $32.61 and last traded at $32.5240, with a volume of 221981 shares traded. The stock had previously closed at $33.66.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Robert W. Baird lowered their price target on Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, August 13th. JPMorgan Chase & Co. decreased their price target on shares of Lineage from $43.00 to $38.00 and set an “underweight” rating on the stock in a research note on Friday, November 14th. UBS Group reduced their target price on Lineage from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Bank of America reissued an “underperform” rating and set a $42.00 price target (down from $47.00) on shares of Lineage in a research note on Monday, August 11th. Finally, Morgan Stanley reduced their price target on shares of Lineage from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Monday, September 22nd. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $46.06.

Lineage Price Performance

The business’s 50 day moving average price is $38.99 and its 200-day moving average price is $41.79. The company has a market cap of $7.45 billion, a PE ratio of -41.33 and a beta of -0.19. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.76.

Lineage (NASDAQ:LINE) last issued 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. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. Lineage had a negative net margin of 3.30% and a negative return on equity of 1.85%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 EPS. As a group, analysts forecast that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Tuesday, September 30th were paid a $0.5275 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $2.11 annualized dividend and a dividend yield of 6.5%. Lineage’s payout ratio is -267.09%.

Insiders Place Their Bets

In other Lineage news, CFO Robert Crisci acquired 10,000 shares of the company’s stock in a transaction on Friday, November 7th. The shares were bought at an average cost of $34.56 per share, for a total transaction of $345,600.00. Following the acquisition, the chief financial officer directly owned 107,859 shares of the company’s stock, valued at $3,727,607.04. This trade represents a 10.22% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robb A. Lemasters bought 30,000 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was acquired at an average cost of $33.74 per share, for a total transaction of $1,012,200.00. Following the completion of the transaction, the chief financial officer owned 60,000 shares in the company, valued at $2,024,400. This represents a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 128,500 shares of company stock worth $4,350,160 in the last quarter. Company insiders own 71.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LINE. GM Advisory Group LLC boosted its stake in Lineage by 100.0% in the third quarter. GM Advisory Group LLC now owns 20,000 shares of the company’s stock valued at $773,000 after acquiring an additional 10,000 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Lineage in the third quarter valued at approximately $4,641,000. Public Employees Retirement System of Ohio increased its position in shares of Lineage by 1.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 22,626 shares of the company’s stock valued at $874,000 after purchasing an additional 350 shares during the period. Mariner LLC raised its position in Lineage by 4.6% in the third quarter. Mariner LLC now owns 12,001 shares of the company’s stock worth $464,000 after acquiring an additional 527 shares in the last quarter. Finally, Gotham Asset Management LLC acquired a new stake in Lineage during the third quarter valued at approximately $6,969,000.

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.