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

Shares of Lineage, Inc. (NASDAQ:LINE - Get Free Report) have earned a consensus rating of "Hold" from the twenty brokerages that are presently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $49.8333.

LINE has been the topic of a number of recent analyst reports. Evercore ISI reduced their price objective on Lineage from $45.00 to $44.00 and set an "in-line" rating on the stock in a research note on Monday, October 6th. JPMorgan Chase & Co. reduced their price target on shares of Lineage from $44.00 to $43.00 and set an "underweight" rating on the stock in a research report on Tuesday, September 23rd. The Goldman Sachs Group lowered their price objective on shares of Lineage from $57.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Barclays reduced their target price on shares of Lineage from $52.00 to $51.00 and set an "overweight" rating on the stock in a research report on Monday, September 15th. Finally, Piper Sandler lowered their price target on shares of Lineage from $60.00 to $55.00 and set an "overweight" rating for the company in a report on Thursday, August 7th.

Insider Buying and Selling at Lineage

In other news, insider Sudarsan V. Thattai purchased 3,563 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the acquisition, the insider directly owned 7,983 shares in the company, valued at approximately $338,878.35. The trade was a 80.61% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Kevin Patrick Marchetti acquired 23,540 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average price of $42.28 per share, with a total value of $995,271.20. Following the completion of the transaction, the chairman owned 62,323 shares of the company's stock, valued at approximately $2,635,016.44. This trade represents a 60.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 39,448 shares of company stock worth $1,645,752 in the last ninety days. 71.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lineage

Several large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its holdings in Lineage by 172.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company's stock worth $25,000 after acquiring an additional 362 shares during the period. Signaturefd LLC boosted its position in shares of Lineage by 132.3% in 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 last quarter. Costello Asset Management INC acquired a new stake in shares of Lineage during the first quarter worth $29,000. Allworth Financial LP increased its holdings in Lineage by 426.4% in the second quarter. Allworth Financial LP now owns 758 shares of the company's stock valued at $33,000 after purchasing an additional 614 shares during the last quarter. Finally, Salomon & Ludwin LLC acquired a new position in Lineage in the first quarter valued at about $34,000.

Lineage Price Performance

Shares of Lineage stock opened at $39.85 on Friday. The stock has a market capitalization of $9.12 billion, a price-to-earnings ratio of -14.28 and a beta of -0.23. The firm's 50-day moving average price is $40.46 and its two-hundred day moving average price is $44.52. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72. Lineage has a 1-year low of $36.66 and a 1-year high of $79.14.

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

Lineage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.5275 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.3%. Lineage's payout ratio is presently -75.63%.

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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