Lineage (NASDAQ:LINE) Price Target Lowered to $45.00 at Evercore ISI

Key Points

• Evercore ISI has lowered its target price for Lineage (NASDAQ:LINE) from $59.00 to $45.00, indicating a potential upside of 5.14% from the current stock price.
• Multiple analysts have reduced their price targets for Lineage, with ratings ranging from a sell to a strong buy, reflecting a consensus "Hold" rating and an average target of $60.20.
• Lineage reported a negative net margin of 10.57% in its latest quarterly earnings, despite exceeding revenue estimates with $1.35 billion compared to an expectation of $1.33 billion.

Lineage (NASDAQ:LINE - Free Report) had its price objective trimmed by Evercore ISI from $59.00 to $45.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an in-line rating on the stock.

A number of other research firms have also recently commented on LINE. Wells Fargo & Company cut their target price on shares of Lineage from $64.00 to $48.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. KeyCorp reissued a "sector weight" rating and set a $84.00 target price on shares of Lineage in a research note on Tuesday, July 1st. BNP Paribas Exane cut shares of Lineage from a "neutral" rating to an "underperform" rating and set a $42.00 target price for the company. in a research note on Thursday, June 12th. Bank of America cut shares of Lineage from a "buy" rating to a "neutral" rating and set a $49.00 target price for the company. in a research note on Tuesday, May 6th. Finally, Scotiabank cut their target price on shares of Lineage from $56.00 to $50.00 and set a "sector perform" rating for the company in a research note on Thursday, May 15th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lineage presently has an average rating of "Hold" and a consensus target price of $60.20.

Lineage Price Performance

Shares of Lineage stock traded down $1.16 during trading hours on Friday, reaching $41.64. The stock had a trading volume of 1,702,840 shares, compared to its average volume of 1,171,648. The stock's 50 day moving average is $43.60 and its 200 day moving average is $50.68. The firm has a market capitalization of $9.52 billion and a PE ratio of -14.92. Lineage has a twelve month low of $40.49 and a twelve month high of $88.57. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 0.72.

Lineage (NASDAQ:LINE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.06. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Lineage had a negative net margin of 10.57% and a negative return on equity of 5.76%. The company's revenue for the quarter was up .9% on a year-over-year basis. Equities analysts expect that Lineage will post 2.34 earnings per share for the current fiscal year.

Lineage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, June 30th were given a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 5.1%. The ex-dividend date was Monday, June 30th. Lineage's dividend payout ratio is presently -75.63%.

Institutional Investors Weigh In On Lineage

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC grew its holdings in shares of Lineage by 132.3% during the 2nd quarter. Signaturefd LLC now owns 648 shares of the company's stock worth $28,000 after purchasing an additional 369 shares during the period. FIL Ltd purchased a new position in Lineage during the fourth quarter worth about $29,000. Costello Asset Management INC purchased a new position in Lineage during the first quarter worth about $29,000. Allworth Financial LP increased its position in shares of Lineage by 426.4% during the second quarter. Allworth Financial LP now owns 758 shares of the company's stock valued at $33,000 after acquiring an additional 614 shares during the last quarter. Finally, Salomon & Ludwin LLC purchased a new stake in shares of Lineage in the 1st quarter valued at approximately $34,000.

About Lineage

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.