BNP Paribas Exane Downgrades Lineage (NASDAQ:LINE) to Underperform

BNP Paribas Exane downgraded shares of Lineage (NASDAQ:LINE - Free Report) from a neutral rating to an underperform rating in a research note published on Thursday, Marketbeat Ratings reports. The brokerage currently has $42.00 target price on the stock.

Several other analysts also recently issued reports on the stock. Piper Sandler lowered their price objective on shares of Lineage from $75.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Morgan Stanley decreased their price target on shares of Lineage from $80.00 to $75.00 and set an "overweight" rating for the company in a research report on Tuesday, April 1st. Robert W. Baird decreased their price target on shares of Lineage from $70.00 to $64.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group reduced their price objective on Lineage from $74.00 to $63.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Finally, Evercore ISI reduced their price objective on Lineage from $68.00 to $59.00 and set an "in-line" rating on the stock in a research note on Thursday, May 1st. 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's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $65.55.

Lineage Price Performance

NASDAQ LINE traded down $1.79 during trading hours on Thursday, reaching $43.65. The company's stock had a trading volume of 807,663 shares, compared to its average volume of 1,223,456. The stock has a market cap of $9.98 billion and a PE ratio of -13.56. Lineage has a fifty-two week low of $41.88 and a fifty-two week high of $89.85. The company's 50-day moving average is $48.52 and its two-hundred day moving average is $55.23. 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 data on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate 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 net margin of 12.18% and a negative return on equity of 9.89%. Lineage's revenue was down 2.7% on a year-over-year basis. 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. Shareholders of record on Monday, March 31st were given a dividend of $0.5275 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 4.83%. Lineage's payout ratio is presently -65.53%.

Insiders Place Their Bets

In other Lineage 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 purchased at an average cost of $44.93 per share, for a total transaction of $491,938.57. Following the transaction, the chairman now owns 35,266 shares of the company's stock, valued at $1,584,501.38. The trade was a 45.03% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sudarsan V. Thattai acquired 4,420 shares of the firm's stock in a transaction on Monday, May 5th. The shares were acquired at an average price of $45.23 per share, with a total value of $199,916.60. Following the completion of the transaction, the insider now directly owns 4,420 shares in the company, valued at approximately $199,916.60. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 26,869 shares of company stock worth $1,194,980. 71.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lineage

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