Lineage, Inc. (NASDAQ:LINE) Receives Average Recommendation of “Hold” from Brokerages

Shares of Lineage, Inc. (NASDAQ:LINE) have been assigned a consensus rating of “Hold” from the twenty-one analysts that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $60.20.

Several equities analysts have recently commented on LINE shares. Morgan Stanley downgraded shares of Lineage from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $75.00 to $50.00 in a report on Monday, June 23rd. KeyCorp reissued a “sector weight” rating and issued a $84.00 target price on shares of Lineage in a report on Tuesday, July 1st. The Goldman Sachs Group lowered their target price on shares of Lineage from $74.00 to $63.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Citigroup lowered their target price on shares of Lineage from $64.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, June 12th. Finally, JPMorgan Chase & Co. downgraded shares of Lineage from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $55.00 to $50.00 in a report on Monday, June 23rd.

Lineage Price Performance

Shares of NASDAQ:LINE opened at $41.64 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.96 and a quick ratio of 0.83. Lineage has a 1-year low of $40.49 and a 1-year high of $88.57. The company has a market capitalization of $9.52 billion and a P/E ratio of -14.92. The firm’s 50 day simple moving average is $43.60 and its two-hundred day simple moving average is $50.61.

Lineage (NASDAQ:LINE) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.06. Lineage had a negative net margin of 10.57% and a negative return on equity of 5.76%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. The business’s quarterly revenue was up .9% compared to the same quarter last year. Research analysts expect that Lineage will post 2.34 EPS for the current fiscal year.

Lineage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, June 30th were given a dividend of $0.5275 per share. The ex-dividend date was Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a yield of 5.1%. Lineage’s payout ratio is -75.63%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Nissay Asset Management Corp Japan ADV increased its position in Lineage by 4.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 8,910 shares of the company’s stock valued at $526,000 after acquiring an additional 340 shares during the last quarter. Signaturefd LLC increased its position in Lineage by 132.3% during the second quarter. Signaturefd LLC now owns 648 shares of the company’s stock valued at $28,000 after acquiring an additional 369 shares during the last quarter. State of Alaska Department of Revenue increased its position in Lineage by 1.2% during the first quarter. State of Alaska Department of Revenue now owns 30,095 shares of the company’s stock valued at $1,764,000 after acquiring an additional 371 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Lineage by 170.4% during the first quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock valued at $43,000 after acquiring an additional 460 shares during the last quarter. Finally, Strs Ohio grew its holdings in shares of Lineage by 0.5% in the second quarter. Strs Ohio now owns 98,088 shares of the company’s stock worth $4,269,000 after purchasing an additional 488 shares during the last quarter.

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.