Lineage, Inc. (NASDAQ:LINE) Receives $61.70 Consensus Price Target from Analysts

Lineage, Inc. (NASDAQ:LINE - Get Free Report) has received an average rating of "Hold" from the twenty-one research firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $61.70.

LINE has been the topic of several recent analyst reports. BNP Paribas Exane downgraded shares of Lineage from a "neutral" rating to an "underperform" rating and set a $42.00 target price on the stock. in a research note on Thursday, June 12th. Robert W. Baird cut their target price on shares of Lineage from $70.00 to $64.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Barclays initiated coverage on shares of Lineage in a research report on Wednesday, April 9th. They issued an "overweight" rating and a $59.00 price target on the stock. Piper Sandler cut their price target on shares of Lineage from $75.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Finally, BNP Paribas set a $42.00 target price on Lineage in a research note on Thursday, June 12th.

Insider Activity at Lineage

In other news, Chairman Kevin Patrick Marchetti bought 11,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired 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 owned 27,733 shares of the company's stock, valued at $1,213,318.75. This represents a 70.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Adam Matthew Schwartz Forste purchased 10,949 shares of the business's stock in a transaction on Thursday, May 8th. The shares were acquired at an average cost of $44.93 per share, with a total value of $491,938.57. Following the acquisition, the chairman directly owned 35,266 shares in the company, valued at approximately $1,584,501.38. The trade was a 45.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 26,869 shares of company stock valued at $1,194,980. 71.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lineage

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

Lineage Stock Performance

Lineage stock traded down $0.11 on Thursday, hitting $42.96. The company's stock had a trading volume of 727,264 shares, compared to its average volume of 1,202,445. The firm has a market cap of $9.82 billion and a P/E ratio of -13.34. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average price of $44.66 and a 200-day moving average price of $52.78. Lineage has a one year low of $41.88 and a one year 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 (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. Lineage had a negative net margin of 11.88% and a negative return on equity of 7.24%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.34 billion. The business's revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities analysts anticipate that Lineage will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 30th will be paid a $0.5275 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.11 annualized dividend and a dividend yield of 4.91%. Lineage's dividend payout ratio is presently -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.