Lineage, Inc. (NASDAQ:LINE) Given Average Recommendation of "Hold" by Analysts

Key Points

• Lineage, Inc. has received an average analyst rating of "Hold," with 4 sell, 8 hold, and 6 buy recommendations out of 18 firms covering the stock.
• The company recently posted earnings of $0.81 per share, surpassing consensus estimates, with revenue of $1.35 billion for the quarter, marking a 0.9% year-over-year increase.
• Lineage announced a quarterly dividend of $0.5275 per share, representing a 5.2% yield, with an ex-dividend date of September 30th.

Lineage, Inc. (NASDAQ:LINE - Get Free Report) has been given an average rating of "Hold" by the eighteen research firms that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $50.50.

A number of research firms have recently weighed in on LINE. Morgan Stanley decreased their price target on shares of Lineage from $50.00 to $46.00 and set an "equal weight" rating for the company in a research report on Monday. BNP Paribas set a $42.00 price objective on Lineage in a research note on Thursday, June 12th. Piper Sandler lowered their target price on shares of Lineage from $60.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Citigroup decreased their price target on shares of Lineage from $64.00 to $49.00 and set a "neutral" rating for the company in a report on Thursday, June 12th. Finally, Bank of America reiterated an "underperform" rating and set a $42.00 price objective (down previously from $47.00) on shares of Lineage in a research note on Monday, August 11th.

Lineage Price Performance

Lineage stock opened at $40.40 on Tuesday. Lineage has a 52-week low of $38.83 and a 52-week high of $81.81. The firm has a fifty day moving average of $41.69 and a 200-day moving average of $46.89. The firm has a market capitalization of $9.24 billion, a P/E ratio of -14.48 and a beta of -0.22. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 0.72.

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

Lineage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Tuesday, September 30th will be given a $0.5275 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.11 annualized dividend and a yield of 5.2%. Lineage's dividend payout ratio (DPR) is currently -75.63%.

Insiders Place Their Bets

In other news, insider Sudarsan V. Thattai purchased 3,563 shares of Lineage stock in a transaction dated Friday, August 8th. The stock was bought at an average price of $42.45 per share, with a total value of $151,249.35. Following the completion of the acquisition, the insider owned 7,983 shares in the company, valued at $338,878.35. The trade was a 80.61% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Kevin Patrick Marchetti purchased 12,345 shares of the stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $40.44 per share, with a total value of $499,231.80. Following the transaction, the chairman directly owned 74,668 shares of the company's stock, valued at approximately $3,019,573.92. The trade was a 19.81% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 39,448 shares of company stock worth $1,645,752 over the last quarter. 71.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lineage

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LINE. Norges Bank acquired a new stake in Lineage in the 2nd quarter valued at approximately $606,642,000. Price T Rowe Associates Inc. MD raised its stake in shares of Lineage by 75.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,364,697 shares of the company's stock valued at $255,903,000 after purchasing an additional 1,880,587 shares in the last quarter. Darlington Partners Capital Management LP raised its stake in shares of Lineage by 5.2% during the second quarter. Darlington Partners Capital Management LP now owns 3,527,000 shares of the company's stock valued at $153,495,000 after purchasing an additional 175,000 shares in the last quarter. State Street Corp lifted its holdings in Lineage by 8.9% in the second quarter. State Street Corp now owns 1,780,270 shares of the company's stock worth $78,402,000 after purchasing an additional 145,742 shares during the period. Finally, Geode Capital Management LLC grew its position in Lineage by 4.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,353,478 shares of the company's stock valued at $58,915,000 after buying an additional 59,781 shares in the last quarter.

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.

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