Weiss Ratings Reaffirms "Sell (D-)" Rating for Lineage (NASDAQ:LINE)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for Lineage (NASDAQ: LINE), following a series of price target adjustments from various analysts.
• Despite recent stock purchases by insiders, including a significant buy from Chairman Kevin Patrick Marchetti, Lineage has an average rating of "Hold" with a consensus price target of $50.06.
• Lineage reported a quarterly EPS of $0.81, surpassing estimates, with revenue of $1.35 billion, showing a modest year-over-year increase.

Lineage (NASDAQ:LINE - Get Free Report)'s stock had its "sell (d-)" rating restated by equities research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research analysts have also recently weighed in on the company. BNP Paribas set a $42.00 price objective on Lineage in a research report on Thursday, June 12th. Royal Bank Of Canada lowered their price objective on Lineage from $64.00 to $51.00 and set an "outperform" rating on the stock in a research report on Monday, August 18th. Evercore ISI lowered their price target on Lineage from $45.00 to $44.00 and set an "in-line" rating on the stock in a report on Monday. Wells Fargo & Company lowered their price target on Lineage from $48.00 to $43.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 27th. Finally, Scotiabank lowered their price target on Lineage from $49.00 to $43.00 and set a "sector perform" rating on the stock in a report on Friday, September 5th. Six investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, Lineage has an average rating of "Hold" and a consensus price target of $50.06.

Lineage Trading Up 2.1%

Lineage stock opened at $40.88 on Wednesday. The business has a 50-day simple moving average of $40.90 and a two-hundred day simple moving average of $45.43. The company has a market cap of $9.35 billion, a P/E ratio of -14.65 and a beta of -0.23. Lineage has a 52-week low of $36.66 and a 52-week high of $79.14. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 0.72.

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

Insider Buying and Selling at Lineage

In other Lineage news, Chairman Kevin Patrick Marchetti bought 12,345 shares of Lineage stock in a transaction on Tuesday, August 19th. The shares were acquired at an average price of $40.44 per share, for a total transaction of $499,231.80. Following the completion of the purchase, the chairman directly owned 74,668 shares in the company, valued at approximately $3,019,573.92. This trade represents a 19.81% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sudarsan V. Thattai bought 3,563 shares of Lineage stock in a transaction on Friday, August 8th. The stock was acquired at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the purchase, the insider owned 7,983 shares of the company's stock, valued at approximately $338,878.35. This trade represents a 80.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 39,448 shares of company stock worth $1,645,752 in the last 90 days. 71.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lineage

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in shares of Lineage by 172.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company's stock worth $25,000 after buying an additional 362 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Lineage by 132.3% during the 2nd quarter. Signaturefd LLC now owns 648 shares of the company's stock worth $28,000 after purchasing an additional 369 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Lineage by 1.2% during the 1st quarter. State of Alaska Department of Revenue now owns 30,095 shares of the company's stock worth $1,764,000 after purchasing an additional 371 shares during the last quarter. PNC Financial Services Group Inc. lifted 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 last quarter. Finally, Strs Ohio raised its stake in Lineage by 0.5% in the second quarter. Strs Ohio now owns 98,088 shares of the company's stock valued at $4,269,000 after buying an additional 488 shares during 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.