Lineage (NASDAQ:LINE) Sets New 1-Year Low - Should You Sell?

Lineage, Inc. (NASDAQ:LINE - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $41.88 and last traded at $42.37, with a volume of 79041 shares. The stock had previously closed at $42.69.

Analyst Ratings Changes

A number of research firms have weighed in on LINE. Robert W. Baird cut their target price on Lineage from $70.00 to $64.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Scotiabank cut their target price on Lineage from $56.00 to $50.00 and set a "sector perform" rating for the company in a research report on Thursday, May 15th. Royal Bank of Canada cut their target price on Lineage from $81.00 to $74.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Citigroup began coverage on Lineage in a research report on Friday, March 28th. They issued a "neutral" rating and a $64.00 target price for the company. Finally, Bank of America downgraded Lineage from a "buy" rating to a "neutral" rating and set a $49.00 target price for the company. in a research report on Tuesday, May 6th. Ten analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $67.58.

Lineage Stock Performance

The firm's 50 day simple moving average is $49.95 and its 200-day simple moving average is $56.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. The company has a market capitalization of $10.09 billion and a price-to-earnings ratio of -13.70.

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

Lineage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 4.78%. The ex-dividend date was Monday, March 31st. Lineage's dividend payout ratio (DPR) is currently -65.53%.

Insider Transactions at Lineage

In related news, Chairman Adam Matthew Schwartz Forste purchased 10,949 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were acquired at an average cost of $44.93 per share, with a total value of $491,938.57. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Kevin Patrick Marchetti purchased 11,500 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was bought at an average cost of $43.75 per share, for a total transaction of $503,125.00. Following the completion of the purchase, the chairman now directly owns 27,733 shares of the company's stock, valued at $1,213,318.75. The trade was a 70.84% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 26,869 shares of company stock valued at $1,194,980. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Lineage

A number of hedge funds have recently modified their holdings of the stock. Strs Ohio acquired a new position in shares of Lineage in the first quarter worth $5,722,000. Optimize Financial Inc boosted its holdings in Lineage by 37.7% in the first quarter. Optimize Financial Inc now owns 7,758 shares of the company's stock worth $455,000 after purchasing an additional 2,125 shares in the last quarter. Woodline Partners LP boosted its holdings in Lineage by 0.4% in the first quarter. Woodline Partners LP now owns 312,027 shares of the company's stock worth $18,294,000 after purchasing an additional 1,128 shares in the last quarter. Needham Investment Management LLC boosted its holdings in Lineage by 21.7% in the first quarter. Needham Investment Management LLC now owns 14,000 shares of the company's stock worth $821,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Lineage by 197.0% in the first quarter. Millennium Management LLC now owns 288,518 shares of the company's stock worth $16,916,000 after purchasing an additional 191,362 shares in the last quarter.

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.