Lineage, Inc. (NASDAQ:LINE) Given Consensus Rating of "Moderate Buy" by Brokerages

Lineage, Inc. (NASDAQ:LINE - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twenty brokerages that are presently covering the firm, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $67.58.

A number of brokerages have weighed in on LINE. Citigroup began coverage on shares of Lineage in a research report on Friday, March 28th. They set a "neutral" rating and a $64.00 price target for the company. Evercore ISI dropped their price target on shares of Lineage from $68.00 to $59.00 and set an "in-line" rating for the company in a research report on Thursday, May 1st. Scotiabank dropped their price target on shares of Lineage from $56.00 to $50.00 and set a "sector perform" rating for the company in a research report on Thursday, May 15th. Piper Sandler dropped their price target on shares of Lineage from $75.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, Morgan Stanley dropped their price target on shares of Lineage from $80.00 to $75.00 and set an "overweight" rating for the company in a research report on Tuesday, April 1st.

Insider Buying and Selling at Lineage

In related news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the company's stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the purchase, the chairman now directly owns 24,317 shares of the company's stock, valued at approximately $1,471,178.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Kevin Patrick Marchetti purchased 11,500 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was bought at an average price of $43.75 per share, for a total transaction of $503,125.00. Following the completion of the purchase, the chairman now directly owns 27,733 shares of the company's stock, valued at $1,213,318.75. The trade was a 70.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 51,186 shares of company stock worth $2,666,159 over the last three months. Insiders own 1.40% of the company's stock.

Institutional Trading of Lineage

Several institutional investors and hedge funds have recently bought and sold shares of LINE. Norges Bank purchased a new position in Lineage during the 4th quarter worth $681,572,000. Vanguard Group Inc. grew its position in Lineage by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company's stock worth $562,003,000 after purchasing an additional 408,526 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Lineage by 75.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,364,697 shares of the company's stock worth $255,903,000 after purchasing an additional 1,880,587 shares during the last quarter. D1 Capital Partners L.P. grew its position in Lineage by 257.5% during the 4th quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company's stock worth $219,848,000 after purchasing an additional 2,703,598 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in Lineage by 92.1% during the 4th quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company's stock worth $189,380,000 after purchasing an additional 1,550,478 shares during the last quarter.

Lineage Trading Down 0.6%

Shares of LINE stock opened at $47.61 on Wednesday. The company's 50-day moving average price is $53.31 and its 200-day moving average price is $57.83. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The stock has a market cap of $10.88 billion and a price-to-earnings ratio of -14.79. Lineage has a twelve month low of $42.05 and a twelve month high of $89.85.

Lineage (NASDAQ:LINE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The company's revenue was down 2.7% on a year-over-year basis. As a group, equities analysts predict that Lineage will post 2.34 earnings per share for the current year.

Lineage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were paid a $0.5275 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 4.43%. Lineage's dividend payout ratio is currently -65.53%.

Lineage Company Profile

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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