Lineage (NASDAQ:LINE) Sets New 1-Year Low Following Analyst Downgrade

Key Points

• Lineage, Inc. (NASDAQ:LINE) reached a new 52-week low at $38.35 following a downgrade from JPMorgan Chase, which lowered its price target from $44.00 to $43.00.
• The company has faced multiple downgrades from various analysts, with the consensus price target now set at $50.11 and a rating mix of Buy, Hold, and Sell.
• Chairman Kevin Patrick Marchetti made a significant purchase of 23,540 shares, increasing his ownership by 60.70%, amidst insider buying activity that showed confidence in the stock.

Lineage, Inc. (NASDAQ:LINE - Get Free Report)'s share price reached a new 52-week low during trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $44.00 to $43.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Lineage traded as low as $38.75 and last traded at $38.35, with a volume of 49005 shares traded. The stock had previously closed at $38.98.

LINE has been the topic of several other reports. Bank of America reiterated an "underperform" rating and set a $42.00 target price (down from $47.00) on shares of Lineage in a report on Monday, August 11th. UBS Group dropped their target price on Lineage from $49.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Piper Sandler dropped their target price on Lineage from $60.00 to $55.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Robert W. Baird dropped their target price on Lineage from $64.00 to $51.00 and set an "outperform" rating on the stock in a report on Wednesday, August 13th. Finally, Citigroup dropped their target price on Lineage from $64.00 to $49.00 and set a "neutral" rating on the stock in a report on Thursday, June 12th. Six analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $50.11.

Insider Activity at Lineage

In other news, Chairman Kevin Patrick Marchetti bought 23,540 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was bought at an average price of $42.28 per share, for a total transaction of $995,271.20. Following the transaction, the chairman owned 62,323 shares in the company, valued at $2,635,016.44. The trade was a 60.70% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sudarsan V. Thattai bought 3,563 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was purchased at an average price of $42.45 per share, with a total value of $151,249.35. Following the transaction, the insider owned 7,983 shares in the company, valued at approximately $338,878.35. This represents a 80.61% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 39,448 shares of company stock valued at $1,645,752. Insiders own 71.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its stake in Lineage by 172.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company's stock valued at $25,000 after acquiring an additional 362 shares in the last quarter. Signaturefd LLC raised its stake in Lineage by 132.3% during the 2nd quarter. Signaturefd LLC now owns 648 shares of the company's stock valued at $28,000 after acquiring an additional 369 shares in the last quarter. Costello Asset Management INC bought a new stake in Lineage during the 1st quarter valued at $29,000. Allworth Financial LP raised its stake in shares of Lineage by 426.4% in the 2nd quarter. Allworth Financial LP now owns 758 shares of the company's stock worth $33,000 after buying an additional 614 shares in the last quarter. Finally, Salomon & Ludwin LLC bought a new stake in shares of Lineage in the 1st quarter worth $34,000.

Lineage Stock Down 1.9%

The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.96. The stock has a 50 day moving average price of $41.65 and a 200 day moving average price of $46.84. The company has a market cap of $8.75 billion, a P/E ratio of -13.73 and a beta of -0.22.

Lineage (NASDAQ:LINE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.06. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%.The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. The business's quarterly revenue was up .9% compared to the same quarter last year. Research analysts expect that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Tuesday, September 30th will be paid a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Lineage's payout ratio is currently -75.63%.

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.

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