Lineage, Inc. (NASDAQ:LINE) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts rate Lineage “Hold” overall: Three recommend selling, nine advise holding and five recommend buying. The average 12-month price target is $43.73, above the stock’s reported $34.34 price.
• Quarterly results exceeded expectations: Lineage reported $0.76 in EPS versus the consensus estimate of a $0.22 loss, while revenue reached $1.36 billion and rose 0.8% year over year. However, the company remained unprofitable, with a negative 3.15% net margin.
• Lineage announced a high-yield dividend and insider purchases: The quarterly dividend is $0.5325 per share, implying a 6.2% annual yield. The chairman and CFO also bought a combined 45,000 shares, while insiders collectively own 71.6% of the company.

Shares of Lineage, Inc. (NASDAQ:LINE - Get Free Report) have earned a consensus recommendation of "Hold" from the seventeen brokerages that are covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $43.73.

A number of brokerages recently commented on LINE. Truist Financial increased their price target on Lineage from $44.00 to $46.00 and gave the company a "buy" rating in a research report on Wednesday, June 17th. The Goldman Sachs Group set a $53.00 price objective on Lineage in a research report on Wednesday, August 12th. Citigroup upped their price objective on Lineage from $42.00 to $43.00 and gave the company a "neutral" rating in a research note on Thursday, August 13th. Wells Fargo & Company raised their target price on Lineage from $36.00 to $38.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 1st. Finally, Royal Bank Of Canada lifted their target price on Lineage from $44.00 to $48.00 and gave the stock an "outperform" rating in a research note on Monday, August 17th.

Lineage Stock Up 1.1%

Lineage stock opened at $34.34 on Friday. Lineage has a fifty-two week low of $31.33 and a fifty-two week high of $45.75. The stock has a market cap of $7.82 billion, a PE ratio of -47.69 and a beta of 0.86. The firm's 50-day simple moving average is $39.38 and its 200 day simple moving average is $39.54. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.78.

Lineage (NASDAQ:LINE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.76 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the business posted $0.81 EPS. The company's revenue for the quarter was up .8% on a year-over-year basis. Research analysts predict that Lineage will post 2.5 EPS for the current fiscal year.

Lineage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.5325 per share. This represents a $2.13 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Lineage's dividend payout ratio is currently -295.83%.

Insider Activity at Lineage

In other news, Chairman Kevin Marchetti acquired 25,000 shares of the company's stock in a transaction that occurred on Friday, August 28th. The shares were acquired at an average price of $39.50 per share, for a total transaction of $987,500.00. Following the completion of the purchase, the chairman owned 138,690 shares in the company, valued at approximately $5,478,255. This trade represents a 21.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Robb A. Lemasters acquired 20,000 shares of Lineage stock in a transaction on Friday, August 7th. The shares were purchased at an average cost of $41.33 per share, with a total value of $826,600.00. Following the completion of the acquisition, the chief financial officer owned 49,500 shares of the company's stock, valued at $2,045,835. This trade represents a 67.80% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 71.60% of the company's stock.

Institutional Trading of Lineage

Several hedge funds have recently made changes to their positions in the company. Paralel Advisors LLC purchased a new stake in shares of Lineage during the second quarter worth $26,000. Rothschild Investment LLC boosted its holdings in shares of Lineage by 575.2% in the fourth quarter. Rothschild Investment LLC now owns 736 shares of the company's stock worth $26,000 after acquiring an additional 627 shares during the period. Global Retirement Partners LLC purchased a new position in shares of Lineage in the second quarter valued at $48,000. Parallel Advisors LLC grew its position in shares of Lineage by 172.7% in the first quarter. Parallel Advisors LLC now owns 1,650 shares of the company's stock valued at $54,000 after purchasing an additional 1,045 shares in the last quarter. Finally, Caitlin John LLC bought a new stake in shares of Lineage during the 2nd quarter valued at $83,000.

Lineage Company Profile

Lineage, Inc is a global temperature-controlled industrial real estate and logistics company. It owns, operates and develops cold-storage facilities that help preserve and move perishable food products, including meat, seafood, dairy, fruits, vegetables and prepared foods.

The company provides a range of supply-chain services in addition to refrigerated and frozen warehousing. These services include transportation, distribution, port and rail logistics, food processing support, inventory management and other technology-enabled solutions designed to improve the efficiency and reliability of the food supply chain.

Lineage serves customers across North America, Europe and the Asia-Pacific region, with facilities located near major transportation hubs, ports and population centers.

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