Lineage, Inc. (NASDAQ:LINE) Given Average Rating of "Hold" by Brokerages

Lineage, Inc. (NASDAQ:LINE - Get Free Report) has been given a consensus recommendation of "Hold" by the twenty-one analysts that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $65.55.

Several equities analysts have recently commented on LINE shares. Scotiabank decreased their price target on Lineage from $56.00 to $50.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 15th. 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. Morgan Stanley cut their price objective on Lineage from $80.00 to $75.00 and set an "overweight" rating on the stock in a report on Tuesday, April 1st. Robert W. Baird cut their price objective on Lineage from $70.00 to $64.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, Wells Fargo & Company cut their price objective on Lineage from $64.00 to $48.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th.

Insider Activity

In other news, insider Sudarsan V. Thattai bought 4,420 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was purchased at an average cost of $45.23 per share, with a total value of $199,916.60. Following the transaction, the insider now directly owns 4,420 shares in the company, valued at $199,916.60. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Adam Matthew Schwartz Forste bought 10,949 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was purchased at an average cost of $44.93 per share, with a total value of $491,938.57. Following the completion of the transaction, the chairman now owns 35,266 shares in the company, valued at approximately $1,584,501.38. This trade represents a 45.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 26,869 shares of company stock worth $1,194,980. 71.90% of the stock is currently owned by insiders.

Institutional Trading of Lineage

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

Lineage Trading Down 3.9%

Shares of Lineage stock traded down $1.79 during trading hours on Friday, hitting $43.65. The company's stock had a trading volume of 807,663 shares, compared to its average volume of 1,223,456. Lineage has a twelve month low of $41.88 and a twelve month high of $89.85. The firm has a fifty day moving average of $48.52 and a 200-day moving average of $55.16. The stock has a market cap of $9.98 billion and a price-to-earnings ratio of -13.56. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07.

Lineage (NASDAQ:LINE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.34 billion. The company's revenue for the quarter was down 2.7% on a year-over-year basis. Research analysts forecast that Lineage will post 2.34 EPS for the current year.

Lineage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were issued a $0.5275 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.83%. 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.