Lineage, Inc. (NASDAQ:LINE) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Lineage, Inc. (NASDAQ:LINE) have been assigned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are presently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $85.06.

A number of research analysts have commented on LINE shares. BNP Paribas initiated coverage on Lineage in a research note on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 target price on the stock. The Goldman Sachs Group dropped their price objective on Lineage from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Royal Bank of Canada reduced their price objective on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. JPMorgan Chase & Co. cut Lineage from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $78.00 to $75.00 in a research report on Friday, December 20th. Finally, Mizuho decreased their price target on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp acquired a new position in shares of Lineage in the 3rd quarter worth approximately $833,000. TOMS Capital Investment Management LP acquired a new position in Lineage during the third quarter worth $15,676,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Lineage in the 3rd quarter valued at $23,893,000. Nicola Wealth Management LTD. bought a new stake in shares of Lineage in the 3rd quarter worth about $658,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Lineage during the 3rd quarter worth about $12,542,000.

Lineage Stock Down 0.2 %

NASDAQ:LINE opened at $59.97 on Thursday. Lineage has a fifty-two week low of $52.75 and a fifty-two week high of $89.85. 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 firm’s 50-day simple moving average is $60.43.

Lineage (NASDAQ:LINE) last released its quarterly earnings data 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). Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the company posted $0.75 EPS. The firm’s quarterly revenue was up .5% compared to the same quarter last year. As a group, research analysts expect that Lineage will post 2.33 EPS for the current year.

Lineage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.5275 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.11 annualized dividend and a dividend yield of 3.52%.

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.