Lineage, Inc. (NASDAQ:LINE) Stock Has Average Target Price of $41.93 According to Analysts

Key Points

• Analyst sentiment is neutral: Seventeen analysts give Lineage an average “Hold” rating, with an average 12-month price target of $41.93 versus the reported share price of $35.38.
• Insiders and institutions have been buying: The chairman and CFO purchased a combined 45,000 shares, while major investors including BlackRock and Bank of America established sizable new positions. Insiders own 71.6% of the company.
• Quarterly results exceeded expectations: Lineage reported $0.76 in quarterly EPS versus the expected $0.22 loss and generated $1.36 billion in revenue. The company also pays a $2.13 annualized dividend, representing a 6.0% yield.

Shares of Lineage, Inc. (NASDAQ:LINE - Get Free Report) have earned an average rating of "Hold" from the seventeen ratings firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $41.93.

LINE has been the subject of a number of recent analyst reports. Royal Bank Of Canada raised their price objective on Lineage from $44.00 to $48.00 and gave the stock an "outperform" rating in a research report on Monday, August 17th. Wall Street Zen upgraded shares of Lineage from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Robert W. Baird set a $43.00 target price on shares of Lineage in a research report on Thursday, August 6th. JPMorgan Chase & Co. decreased their target price on shares of Lineage from $40.00 to $37.00 and set an "underweight" rating on the stock in a research report on Thursday, October 15th. Finally, Citigroup increased their target price on shares of Lineage from $42.00 to $43.00 and gave the stock a "neutral" rating in a research note on Thursday, August 13th.

Insider Buying and Selling

In other news, Chairman Kevin Marchetti bought 25,000 shares of the business's stock in a transaction on Friday, August 28th. The shares were bought at an average price of $39.50 per share, with a total value of $987,500.00. Following the completion of the transaction, the chairman directly owned 138,690 shares in the company, valued at $5,478,255. This trade represents a 21.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robb A. Lemasters bought 20,000 shares of the business's stock in a transaction on Friday, August 7th. The stock was purchased at an average cost of $41.33 per share, for a total transaction of $826,600.00. Following the transaction, 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 71.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Lineage in the second quarter valued at $227,511,000. Bank of America Corp DE purchased a new stake in shares of Lineage in the 2nd quarter valued at $156,045,000. HighTower Advisors LLC raised its holdings in shares of Lineage by 6.1% in the 2nd quarter. HighTower Advisors LLC now owns 2,286,166 shares of the company's stock valued at $98,877,000 after buying an additional 130,895 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Lineage in the 2nd quarter valued at $44,638,000. Finally, Canada Pension Plan Investment Board acquired a new position in Lineage during the 2nd quarter worth about $41,271,000.

Lineage Stock Performance

Shares of Lineage stock opened at $35.38 on Wednesday. The stock has a 50 day moving average of $36.88 and a 200 day moving average of $38.70. The firm has a market capitalization of $8.06 billion, a price-to-earnings ratio of -49.14 and a beta of 0.86. Lineage has a fifty-two week low of $31.33 and a fifty-two week high of $45.75.

Lineage (NASDAQ:LINE - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.76 EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.98. The business had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. Lineage's revenue for the quarter was up .8% compared to the same quarter last year. Analysts forecast that Lineage will post 2.47 EPS for the current year.

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 21st. Stockholders of record on Wednesday, September 30th were issued a $0.5325 dividend. This represents a $2.13 annualized dividend and a dividend yield of 6.0%. The ex-dividend date was Wednesday, September 30th. Lineage's dividend payout ratio is currently -295.83%.

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.

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