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

Lineage, Inc. (NASDAQ:LINE) shares crossed above its fifty day moving average during trading on Monday. The stock has a fifty 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.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Citigroup upped their price objective on shares of Lineage from $42.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Piper Sandler decreased their target price on shares of Lineage from $44.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, October 12th. The Goldman Sachs Group set a $44.00 target price on Lineage and gave the stock a “buy” rating in a report on Monday, October 26th. Mizuho upgraded Lineage from a “neutral” rating to an “outperform” rating and upped their price target for the company from $40.00 to $47.00 in a research report on Tuesday, July 28th. Finally, Wall Street Zen raised Lineage from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Lineage currently has an average rating of “Hold” and a consensus price target of $41.93.

Lineage Price Performance

The stock has a market cap of $8.43 billion, a PE ratio of -51.42 and a beta of 0.86. The stock’s fifty day moving average is $36.45 and its 200-day moving average is $38.69. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.78 and a quick ratio of 0.70.

Lineage (NASDAQ:LINE) last issued its 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 company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the firm earned $0.81 earnings per share. Lineage’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities analysts anticipate that Lineage, Inc. will post 2.47 EPS for the current year.

Lineage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 21st. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.5325 per share. The ex-dividend date was Wednesday, September 30th. This represents a $2.13 dividend on an annualized basis and a dividend yield of 5.8%. Lineage’s dividend payout ratio (DPR) is currently -295.83%.

Insider Activity at Lineage

In other news, CFO Robb LeMasters purchased 20,000 shares of Lineage stock in a transaction dated Friday, August 7th. The shares were purchased at an average price of $41.33 per share, with a total value of $826,600.00. Following the transaction, the chief financial officer owned 49,500 shares in the company, valued at $2,045,835. This represents a 67.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Kevin Marchetti acquired 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was acquired at an average price of $39.50 per share, for a total transaction of $987,500.00. Following the completion of the acquisition, the chairman directly owned 138,690 shares of the company’s stock, valued at $5,478,255. The trade was a 21.99% increase in their position. The disclosure for this purchase is available in the SEC filing. 71.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lineage

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LINE. BlackRock Inc. acquired a new position in shares of Lineage in the 2nd quarter valued at $227,511,000. Bank of America Corp DE purchased a new position in shares of Lineage during the 2nd quarter worth $156,045,000. Bank of New York Mellon Corp purchased a new position in shares of Lineage during the 2nd quarter worth $44,638,000. Canada Pension Plan Investment Board acquired a new stake in shares of Lineage during the 2nd quarter worth about $41,271,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Lineage by 134.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 876,901 shares of the company’s stock worth $28,721,000 after purchasing an additional 503,021 shares during the last quarter.

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.