Lineage (NASDAQ:LINE) Stock Rating Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen cut shares of Lineage (NASDAQ:LINE) from a hold rating to a strong sell rating in a research report released on Saturday,Wall Street Zen reports.

A number of other equities research analysts have also recently issued reports on the stock. UBS Group dropped their price target on shares of Lineage from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 20th. The Goldman Sachs Group set a $44.00 target price on shares of Lineage and gave the company a “buy” rating in a report on Monday, October 26th. Robert W. Baird lowered their target price on shares of Lineage from $43.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday. Mizuho upgraded shares of Lineage from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $40.00 to $47.00 in a report on Tuesday, July 28th. Finally, Scotiabank decreased their price target on shares of Lineage from $44.00 to $39.00 and set a “hold” rating for the company in a research note on Friday, October 2nd. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $41.80.

Lineage Stock Performance

Shares of NASDAQ LINE traded up $0.38 during mid-day trading on Friday, hitting $35.31. The stock had a trading volume of 955,863 shares, compared to its average volume of 1,125,979. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.70 and a current ratio of 1.05. Lineage has a twelve month low of $31.33 and a twelve month high of $45.75. The firm has a market cap of $8.04 billion, a PE ratio of 88.28 and a beta of 0.79. The company has a 50 day moving average of $35.99 and a two-hundred day moving average of $38.73.

Lineage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 21st. Stockholders of record on Wednesday, September 30th were given 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 dividend yield of 6.0%. Lineage’s payout ratio is currently 532.50%.

Insider Activity at Lineage

In other news, Chairman Kevin Marchetti acquired 25,000 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were bought at an average cost of $39.50 per share, for a total transaction of $987,500.00. Following the acquisition, the chairman directly owned 138,690 shares in the company, valued at $5,478,255. This trade represents a 21.99% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 71.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lineage

A number of institutional investors have recently modified their holdings of LINE. BlackRock Inc. acquired a new position in shares of Lineage during the second quarter worth about $227,511,000. Canada Pension Plan Investment Board acquired a new stake in Lineage during the 2nd quarter valued at $41,271,000. Hsbc Holdings PLC lifted its stake in shares of Lineage by 47.9% during the 1st quarter. Hsbc Holdings PLC now owns 176,652 shares of the company’s stock worth $5,780,000 after buying an additional 57,185 shares during the last quarter. Quantinno Capital Management LP boosted its stake in Lineage by 122.2% in the 1st quarter. Quantinno Capital Management LP now owns 104,661 shares of the company’s stock valued at $3,429,000 after purchasing an additional 57,553 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Lineage by 2,845,507.1% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 398,385 shares of the company’s stock worth $17,230,000 after purchasing an additional 398,371 shares in the last quarter.

About Lineage

Lineage, Inc. is a global temperature-controlled warehousing and logistics company. It operates refrigerated and frozen storage facilities that help food producers, retailers, and other customers manage products that require controlled temperatures. Its services include cold storage, food processing and handling, blast freezing, transportation, and other supply-chain solutions. By connecting warehouses with transportation and distribution networks, Lineage supports the movement of perishable goods from producers to consumers.