Lineage (NASDAQ:LINE) Downgraded to "Strong Sell" Rating by BNP Paribas

BNP Paribas cut shares of Lineage (NASDAQ:LINE - Free Report) from a hold rating to a strong sell rating in a research report released on Thursday morning,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Evercore ISI lowered their price target on shares of Lineage from $68.00 to $59.00 and set an "in-line" rating for the company in a report on Thursday, May 1st. Morgan Stanley lowered their target price on shares of Lineage from $80.00 to $75.00 and set an "overweight" rating for the company in a research note on Tuesday, April 1st. Citigroup reduced their price target on Lineage from $64.00 to $49.00 and set a "neutral" rating on the stock in a research note on Thursday. Wells Fargo & Company lowered their price objective on Lineage from $64.00 to $48.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. Finally, The Goldman Sachs Group reduced their target price on Lineage from $74.00 to $63.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $65.55.

Lineage Price Performance

NASDAQ:LINE traded down $1.79 during trading hours on Thursday, reaching $43.65. 807,663 shares of the company traded hands, compared to its average volume of 1,223,456. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. The firm's 50-day moving average is $48.63 and its 200-day moving average is $55.37. The stock has a market cap of $9.98 billion and a P/E ratio of -13.56. Lineage has a 1-year low of $41.88 and a 1-year high of $89.85.

Lineage (NASDAQ:LINE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 EPS 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 9.89% and a negative net margin of 12.18%. The company's revenue was down 2.7% on a year-over-year basis. Equities research analysts expect that Lineage will post 2.34 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were given a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 4.83%. The ex-dividend date was Monday, March 31st. Lineage's dividend payout ratio (DPR) is presently -65.53%.

Insider Activity

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

Hedge Funds Weigh In On Lineage

A number of institutional investors have recently made changes to their positions in the business. Cbre Investment Management Listed Real Assets LLC increased its stake in shares of Lineage by 10.5% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 602,803 shares of the company's stock worth $35,306,000 after buying an additional 57,302 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Lineage by 130.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,070,915 shares of the company's stock worth $62,723,000 after acquiring an additional 605,670 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Lineage by 16.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 175,000 shares of the company's stock worth $10,250,000 after purchasing an additional 25,000 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Lineage in the 4th quarter valued at about $305,000. Finally, Mariner LLC bought a new position in shares of Lineage during the fourth quarter worth about $548,000.

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.