Lineage (NASDAQ:LINE) Reaches New 12-Month Low – Here’s What Happened

Lineage, Inc. (NASDAQ:LINE) reached a new 52-week low during trading on Tuesday . The stock traded as low as $62.43 and last traded at $62.57, with a volume of 933755 shares trading hands. The stock had previously closed at $63.31.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group reduced their price target on shares of Lineage from $104.00 to $89.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Capital One Financial started coverage on shares of Lineage in a report on Monday, September 16th. They issued an “overweight” rating and a $91.00 target price for the company. Royal Bank of Canada reduced their target price on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Truist Financial started coverage on shares of Lineage in a report on Monday, August 19th. They issued a “buy” rating and a $94.00 target price for the company. Finally, Mizuho started coverage on shares of Lineage in a report on Monday, August 19th. They issued a “neutral” rating and a $86.00 target price for the company. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.75.

Lineage Stock Down 1.2 %

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 business has a 50 day moving average of $71.91.

Lineage (NASDAQ:LINE) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($3.22). The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 earnings per share. On average, equities analysts anticipate that Lineage, Inc. will post 3 earnings per share for the current fiscal year.

Lineage Announces Dividend

The company also recently announced a — dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, September 30th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Monday, September 30th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE bought a new stake in Lineage in the third quarter worth $25,000. Larson Financial Group LLC bought a new stake in Lineage in the third quarter worth $34,000. Spirit of America Management Corp NY bought a new stake in Lineage in the third quarter worth $165,000. Stifel Financial Corp bought a new stake in Lineage in the third quarter worth $211,000. Finally, MetLife Investment Management LLC bought a new stake in Lineage in the third quarter worth $226,000.

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.