Lineage (NASDAQ:LINE) Rating Lowered to Neutral at Bank of America

Bank of America lowered shares of Lineage (NASDAQ:LINE - Free Report) from a buy rating to a neutral rating in a report issued on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has $49.00 target price on the stock.

Other equities research analysts have also recently issued reports about the company. Piper Sandler dropped their target price on Lineage from $75.00 to $60.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Citigroup started coverage on shares of Lineage in a research note on Friday, March 28th. They issued a "neutral" rating and a $64.00 target price on the stock. Royal Bank of Canada lowered their price target on shares of Lineage from $81.00 to $74.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Scotiabank reissued a "sector perform" rating and issued a $56.00 price target (down previously from $74.00) on shares of Lineage in a report on Thursday, April 10th. Finally, The Goldman Sachs Group lowered their price objective on shares of Lineage from $89.00 to $77.00 and set a "buy" rating for the company in a research note on Friday, January 17th. Ten investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lineage has an average rating of "Moderate Buy" and a consensus target price of $70.79.

Lineage Price Performance

Shares of NASDAQ LINE traded up $0.91 during trading hours on Tuesday, reaching $45.62. 944,468 shares of the stock traded hands, compared to its average volume of 1,268,537. The company has a market capitalization of $10.43 billion and a P/E ratio of -14.17. The company's 50-day simple moving average is $55.05 and its two-hundred day simple moving average is $59.20. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Lineage has a 52-week low of $42.05 and a 52-week high of $89.85.

Lineage (NASDAQ:LINE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. The company had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The business's revenue for the quarter was down 2.7% compared to the same quarter last year. Equities research analysts forecast that Lineage will post 2.34 EPS for the current year.

Lineage Dividend Announcement

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

Insider Transactions at Lineage

In other Lineage news, Chairman Kevin Patrick Marchetti acquired 11,500 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average cost of $43.75 per share, with a total value of $503,125.00. Following the transaction, the chairman now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sudarsan V. Thattai bought 4,420 shares of Lineage stock in a transaction on Monday, May 5th. The stock was acquired at an average cost of $45.23 per share, with a total value of $199,916.60. Following the acquisition, the insider now owns 4,420 shares in the company, valued at approximately $199,916.60. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 40,237 shares of company stock valued at $2,174,220. Insiders own 1.40% of the company's stock.

Institutional Trading of Lineage

Large investors have recently made changes to their positions in the stock. Barclays PLC purchased a new stake in Lineage during the third quarter valued at $13,928,000. Principal Financial Group Inc. purchased a new stake in Lineage during the third quarter valued at approximately $173,115,000. JPMorgan Chase & Co. bought a new stake in Lineage during the third quarter valued at about $12,542,000. GAMMA Investing LLC grew its stake in shares of Lineage by 7,466.7% during the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company's stock valued at $27,000 after acquiring an additional 448 shares during the period. Finally, Oak Thistle LLC purchased a new stake in shares of Lineage in the fourth quarter worth $391,000.

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.