Lineage (NASDAQ:LINE) Downgraded by Bank of America to Neutral

Bank of America lowered shares of Lineage (NASDAQ:LINE - Free Report) from a buy rating to a neutral rating in a research report sent to investors on Tuesday morning, MarketBeat reports. They currently have $49.00 price objective on the stock.

Other analysts have also issued reports about the stock. Mizuho reduced their price target on shares of Lineage from $86.00 to $67.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada decreased their target price on shares of Lineage from $81.00 to $74.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Robert W. Baird dropped their price target on Lineage from $70.00 to $64.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group reduced their price objective on Lineage from $89.00 to $77.00 and set a "buy" rating for the company in a research report on Friday, January 17th. Finally, Citigroup initiated coverage on Lineage in a research report on Friday, March 28th. They issued a "neutral" rating and a $64.00 target price on the stock. Ten research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.79.

Lineage Stock Up 2.0 %

NASDAQ LINE traded up $0.91 during mid-day trading on Tuesday, reaching $45.62. The stock had a trading volume of 944,468 shares, compared to its average volume of 1,268,537. The stock has a market cap of $10.41 billion and a PE ratio of -14.17. Lineage has a 1 year low of $42.05 and a 1 year high of $89.85. 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 company has a fifty day moving average price of $55.05 and a 200 day moving average price of $59.33.

Lineage (NASDAQ:LINE - Get Free Report) last posted its quarterly earnings results 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. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The firm had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.34 billion. The company's quarterly revenue was down 2.7% compared to the same quarter last year. On average, research analysts expect that Lineage will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were issued a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend was Monday, March 31st. Lineage's dividend payout ratio (DPR) is currently -65.53%.

Insider Transactions at Lineage

In other news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the purchase, the chairman now owns 24,317 shares in the company, valued at approximately $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Sudarsan V. Thattai acquired 4,420 shares of Lineage stock in a transaction on Monday, May 5th. The stock was purchased at an average cost of $45.23 per share, for a total transaction of $199,916.60. Following the purchase, the insider now owns 4,420 shares in the company, valued at approximately $199,916.60. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 40,237 shares of company stock valued at $2,174,220. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lineage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in shares of Lineage by 7,466.7% in the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company's stock worth $27,000 after purchasing an additional 448 shares during the period. FIL Ltd bought a new position in Lineage during the fourth quarter valued at $29,000. Costello Asset Management INC bought a new position in Lineage during the first quarter valued at $29,000. Salomon & Ludwin LLC purchased a new stake in shares of Lineage in the first quarter valued at $34,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Lineage by 170.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 730 shares of the company's stock worth $43,000 after purchasing an additional 460 shares during the period.

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.