Lineage, Inc. (NASDAQ:LINE) Receives Average Recommendation of "Hold" from Analysts

Shares of Lineage, Inc. (NASDAQ:LINE - Get Free Report) have earned an average recommendation of "Hold" from the twenty-one analysts that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $61.70.

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group cut their price objective on Lineage from $74.00 to $63.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Citigroup reduced their price target on Lineage from $64.00 to $49.00 and set a "neutral" rating for the company in a research report on Thursday, June 12th. Piper Sandler reduced their price target on Lineage from $75.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. UBS Group reduced their price target on Lineage from $62.00 to $49.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Finally, KeyCorp reiterated a "sector weight" rating and set a $84.00 price target on shares of Lineage in a research report on Tuesday, July 1st.

Lineage Stock Down 1.5%

Shares of LINE stock opened at $42.86 on Thursday. The stock's 50-day simple moving average is $44.79 and its 200-day simple moving average is $53.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.86 and a current ratio of 0.99. The firm has a market capitalization of $9.80 billion and a PE ratio of -13.31. Lineage has a fifty-two week low of $41.88 and a fifty-two week high of $89.85.

Lineage (NASDAQ:LINE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative return on equity of 7.24% and a negative net margin of 11.88%. Lineage's quarterly revenue was down 2.7% compared to the same quarter last year. Equities analysts expect that Lineage will post 2.34 earnings per share for the current year.

Lineage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, June 30th will be paid a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date is Monday, June 30th. Lineage's dividend payout ratio is presently -65.53%.

Insider Transactions at Lineage

In other news, Chairman Kevin Patrick Marchetti purchased 11,500 shares of the stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average cost of $43.75 per share, with a total value of $503,125.00. Following the completion of the purchase, the chairman directly owned 27,733 shares of the company's stock, valued at approximately $1,213,318.75. The trade was a 70.84% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Sudarsan V. Thattai purchased 4,420 shares of the stock in a transaction dated Monday, May 5th. The stock was purchased at an average cost of $45.23 per share, for a total transaction of $199,916.60. Following the completion of the purchase, the insider directly owned 4,420 shares of the company's stock, valued at approximately $199,916.60. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 26,869 shares of company stock valued at $1,194,980 over the last ninety days. Insiders own 71.90% of the company's stock.

Institutional Trading of Lineage

Institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in Lineage during the fourth quarter worth $681,572,000. D1 Capital Partners L.P. raised its holdings in shares of Lineage by 257.5% in the 4th quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company's stock valued at $219,848,000 after buying an additional 2,703,598 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Lineage by 75.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,364,697 shares of the company's stock valued at $255,903,000 after buying an additional 1,880,587 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Lineage by 92.1% in the 4th quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company's stock valued at $189,380,000 after buying an additional 1,550,478 shares during the period. Finally, Darlington Partners Capital Management LP purchased a new stake in shares of Lineage in the 4th quarter valued at $90,491,000.

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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