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

Key Points

• Lineage, Inc. has an average analyst recommendation of “Hold” from 18 brokerages, with 4 sell ratings, 10 hold ratings, and 4 buy ratings. The average 12-month price target is $42.25.
• The stock opened at $44.59, near its 52-week high of $45.75, and the company has a market cap of about $10.15 billion. Its latest quarterly results beat EPS expectations, with earnings of $0.78 per share versus an expected loss of $0.23.
• Lineage announced a quarterly dividend of $0.5325 per share, payable July 21, which annualizes to $2.13 and yields about 4.8%. Institutional investors have also been active in the stock, with several firms increasing their stakes.

Lineage, Inc. (NASDAQ:LINE - Get Free Report) has been assigned an average recommendation of "Hold" from the eighteen brokerages that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $42.25.

A number of equities analysts have commented on LINE shares. Scotiabank restated a "sector perform" rating and set a $45.00 price objective on shares of Lineage in a research note on Thursday, June 18th. Morgan Stanley increased their target price on Lineage from $39.00 to $47.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 2nd. Piper Sandler decreased their price target on Lineage from $43.00 to $35.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 1st. UBS Group raised their price target on Lineage from $35.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, Wells Fargo & Company dropped their price target on Lineage from $39.00 to $36.00 and set an "equal weight" rating for the company in a research note on Monday, June 1st.

Lineage Stock Performance

Shares of NASDAQ:LINE opened at $44.59 on Monday. The company's 50 day moving average price is $42.41 and its two-hundred day moving average price is $38.67. Lineage has a 12-month low of $31.33 and a 12-month high of $45.75. The firm has a market cap of $10.15 billion, a PE ratio of -71.92 and a beta of 0.85. The company has a quick ratio of 0.76, a current ratio of 0.85 and a debt-to-equity ratio of 0.82.

Lineage (NASDAQ:LINE - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of ($0.23) by $1.01. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. Lineage had a negative net margin of 2.72% and a negative return on equity of 1.56%. The firm's quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 earnings per share. Equities research analysts predict that Lineage will post 2.44 earnings per share for the current year.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, June 30th will be issued a $0.5325 dividend. This represents a $2.13 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Lineage's dividend payout ratio (DPR) is currently -343.55%.

Institutional Trading of Lineage

A number of institutional investors and hedge funds have recently made changes to their positions in LINE. Royal Bank of Canada boosted its position in shares of Lineage by 15.2% during the 1st quarter. Royal Bank of Canada now owns 4,956 shares of the company's stock worth $290,000 after acquiring an additional 653 shares in the last quarter. AQR Capital Management LLC acquired a new position in Lineage during the first quarter valued at approximately $886,000. Millennium Management LLC raised its position in Lineage by 197.0% during the first quarter. Millennium Management LLC now owns 288,518 shares of the company's stock valued at $16,916,000 after purchasing an additional 191,362 shares in the last quarter. Invesco Ltd. lifted its stake in Lineage by 15.5% during the second quarter. Invesco Ltd. now owns 148,086 shares of the company's stock worth $6,445,000 after purchasing an additional 19,927 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Lineage by 172.4% during the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company's stock worth $25,000 after purchasing an additional 362 shares during the last quarter.

About Lineage

Lineage Logistics, Inc NASDAQ: LINE is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage's core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.