Lineage (NASDAQ:LINE) Downgraded by Baird R W to “Hold”

Baird R W lowered shares of Lineage (NASDAQ:LINE) from a strong-buy rating to a hold rating in a research report released on Thursday morning,Zacks.com reports.

A number of other equities analysts have also weighed in on LINE. The Goldman Sachs Group lowered their target price on Lineage from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, November 25th. Truist Financial decreased their price objective on Lineage from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, August 22nd. Piper Sandler reissued a “neutral” rating and issued a $41.00 target price (down previously from $55.00) on shares of Lineage in a research report on Thursday, November 6th. Scotiabank decreased their price target on shares of Lineage from $42.00 to $37.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 12th. Finally, Mizuho dropped their price objective on shares of Lineage from $44.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Lineage presently has an average rating of “Reduce” and an average price target of $43.50.

Lineage Price Performance

Shares of LINE opened at $34.31 on Thursday. The company’s 50-day moving average is $36.80 and its 200-day moving average is $40.30. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.99 and a quick ratio of 0.86. The firm has a market capitalization of $7.83 billion, a PE ratio of -43.43 and a beta of -0.16. Lineage has a fifty-two week low of $32.46 and a fifty-two week high of $62.30.

Lineage (NASDAQ:LINE) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. The business 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%. Lineage’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 EPS. Equities analysts forecast that Lineage will post 2.34 EPS for the current year.

Lineage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Wednesday, December 31st will be issued a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Wednesday, December 31st. Lineage’s dividend payout ratio (DPR) is currently -267.09%.

Insiders Place Their Bets

In other Lineage news, Chairman Adam Matthew Schwartz Forste purchased 74,000 shares of the stock in a transaction dated Monday, November 10th. The stock was bought at an average price of $33.83 per share, with a total value of $2,503,420.00. Following the acquisition, the chairman owned 109,266 shares of the company’s stock, valued at approximately $3,696,468.78. This represents a 209.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Robert Crisci acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average price of $34.56 per share, with a total value of $345,600.00. Following the completion of the transaction, the chief financial officer owned 107,859 shares in the company, valued at $3,727,607.04. The trade was a 10.22% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 129,000 shares of company stock worth $4,366,940. 71.90% of the stock is currently owned by company insiders.

Institutional Trading of Lineage

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Bancorp USA Inc. acquired a new position in shares of Lineage during the third quarter worth $581,000. Wilmington Savings Fund Society FSB bought a new stake in Lineage during the 3rd quarter worth $70,000. GM Advisory Group LLC grew its position in Lineage by 100.0% during the 3rd quarter. GM Advisory Group LLC now owns 20,000 shares of the company’s stock worth $773,000 after acquiring an additional 10,000 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in Lineage in the 3rd quarter worth about $4,641,000. Finally, Public Employees Retirement System of Ohio raised its position in Lineage by 1.6% in the third 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 last quarter.

About Lineage

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.