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

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

Several equities research analysts recently weighed in on LINE shares. Piper Sandler cut their target price on shares of Lineage from $75.00 to $60.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Morgan Stanley lowered shares of Lineage from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $75.00 to $50.00 in a research note on Monday, June 23rd. BNP Paribas set a $42.00 price target on Lineage in a report on Thursday, June 12th. Evercore ISI lowered their price target on Lineage from $68.00 to $59.00 and set an "in-line" rating for the company in a report on Thursday, May 1st. Finally, BNP Paribas Exane downgraded Lineage from a "neutral" rating to an "underperform" rating and set a $42.00 price target for the company. in a report on Thursday, June 12th.

Insiders Place Their Bets

In other news, Chairman Kevin Patrick Marchetti acquired 11,500 shares of the business'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 transaction, the chairman owned 27,733 shares in the company, valued at $1,213,318.75. This represents a 70.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Adam Matthew Schwartz Forste acquired 10,949 shares of the business's stock in a transaction on Thursday, May 8th. The shares were purchased at an average price of $44.93 per share, with a total value of $491,938.57. Following the transaction, the chairman owned 35,266 shares in the company, valued at $1,584,501.38. The trade was a 45.03% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 26,869 shares of company stock worth $1,194,980. 71.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Lineage

Large investors have recently bought and sold shares of the company. FIL Ltd acquired a new position in shares of Lineage during the 4th quarter worth $29,000. Costello Asset Management INC acquired a new position in shares of Lineage during the 1st quarter worth $29,000. Salomon & Ludwin LLC acquired a new position in shares of Lineage during the 1st quarter worth $34,000. PNC Financial Services Group Inc. grew its stake in shares of Lineage by 170.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 730 shares of the company's stock worth $43,000 after purchasing an additional 460 shares during the period. Finally, Quarry LP acquired a new position in shares of Lineage during the 4th quarter worth $50,000.

Lineage Trading Down 0.5%

Shares of NASDAQ:LINE traded down $0.21 during midday trading on Thursday, reaching $42.86. 275,246 shares of the company's stock were exchanged, compared to its average volume of 1,200,642. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.86. The firm's 50 day simple moving average is $44.71 and its two-hundred day simple moving average is $52.89. Lineage has a fifty-two week low of $41.88 and a fifty-two week high of $89.85. The stock has a market cap of $9.80 billion and a price-to-earnings ratio of -13.28.

Lineage (NASDAQ:LINE - Get Free Report) last released its 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. Lineage had a negative return on equity of 7.24% and a negative net margin of 11.88%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.34 billion. Lineage's quarterly revenue was down 2.7% on a year-over-year basis. As a group, sell-side 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 will be paid on Monday, July 21st. Shareholders of record on Monday, June 30th will be given a dividend of $0.5275 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a yield of 4.92%. Lineage's payout ratio is currently -65.53%.

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.