Lineage, Inc. (NASDAQ:LINE) Receives $53.26 Consensus PT from Brokerages

Key Points

• Lineage, Inc. has received an average rating of "Hold" from analysts, with four sell ratings, eight hold ratings, and seven buy ratings across nineteen brokerages.
• The company's latest earnings report showed an EPS of $0.81, surpassing analyst expectations of $0.75, along with a revenue of $1.35 billion for the quarter.
• Lineage recently declared a quarterly dividend of $0.5275 per share, providing a 5.1% dividend yield to stockholders of record.

Lineage, Inc. (NASDAQ:LINE - Get Free Report) has earned an average rating of "Hold" from the nineteen brokerages that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $53.2632.

Several analysts have recently issued reports on the stock. Robert W. Baird lowered their price target on shares of Lineage from $64.00 to $51.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 13th. The Goldman Sachs Group lowered their price target on shares of Lineage from $57.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Piper Sandler lowered their price target on shares of Lineage from $60.00 to $55.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. BNP Paribas set a $42.00 price objective on shares of Lineage in a research note on Thursday, June 12th. Finally, Barclays reduced their price objective on shares of Lineage from $59.00 to $52.00 and set an "overweight" rating for the company in a research note on Monday, July 21st.

Insider Activity at Lineage

In other news, insider Sudarsan V. Thattai acquired 3,563 shares of Lineage stock in a transaction that occurred on 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 purchase, the insider 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 purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Kevin Patrick Marchetti acquired 23,540 shares of Lineage stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average cost of $42.28 per share, with a total value of $995,271.20. Following the purchase, the chairman owned 62,323 shares of the company's stock, valued at $2,635,016.44. This represents a 60.70% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 39,448 shares of company stock valued at $1,645,752. 71.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lineage

A number of hedge funds and other institutional investors have recently bought and sold shares of LINE. Norges Bank purchased a new position in Lineage in the 2nd quarter worth approximately $606,642,000. Price T Rowe Associates Inc. MD increased its stake in Lineage by 75.7% in 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 acquiring an additional 1,880,587 shares during the last quarter. Janus Henderson Group PLC increased its stake in Lineage by 92.1% in the fourth quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company's stock valued at $189,380,000 after acquiring an additional 1,550,478 shares during the last quarter. Darlington Partners Capital Management LP bought a new position in Lineage in the fourth quarter valued at $90,491,000. Finally, Nuveen LLC purchased a new stake in Lineage during the first quarter valued at about $37,468,000.

Lineage Stock Performance

Shares of NASDAQ LINE traded up $0.36 during midday trading on Friday, hitting $41.91. The company's stock had a trading volume of 1,096,285 shares, compared to its average volume of 1,286,021. The stock has a fifty day moving average price of $42.46 and a 200 day moving average price of $48.72. Lineage has a one year low of $38.83 and a one year high of $84.89. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $9.59 billion, a price-to-earnings ratio of -15.02 and a beta of -0.22.

Lineage (NASDAQ:LINE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.06. Lineage had a negative net margin of 10.57% and a negative return on equity of 5.76%. The company had revenue of $1.35 billion for 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. On average, research analysts forecast that Lineage will post 2.34 EPS for the current fiscal year.

Lineage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, June 30th were paid a dividend of $0.5275 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.11 annualized dividend and a yield of 5.0%. Lineage's payout ratio is currently -75.63%.

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.