Lineage (NASDAQ:LINE) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Lineage (NASDAQ:LINE) from a strong sell rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

Several other research firms have also commented on LINE. Bank of America reiterated an “underperform” rating and set a $42.00 price target (down previously from $47.00) on shares of Lineage in a report on Monday, August 11th. Barclays cut their price objective on shares of Lineage from $51.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Lineage in a report on Wednesday, November 26th. Evercore ISI dropped their price target on shares of Lineage from $44.00 to $38.00 and set an “in-line” rating for the company in a research note on Monday, November 10th. Finally, Piper Sandler restated a “neutral” rating and set a $41.00 price target (down previously from $55.00) on shares of Lineage in a report on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $45.17.

Lineage Price Performance

Shares of Lineage stock traded up $0.08 on Monday, hitting $36.18. 99,571 shares of the company were exchanged, compared to its average volume of 1,099,571. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average price of $37.74 and a 200 day moving average price of $41.04. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of -45.87 and a beta of -0.16. Lineage has a 1-year low of $32.46 and a 1-year high of $63.88.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.30%.The firm’s revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 earnings per share. As a group, sell-side analysts predict that Lineage will post 2.34 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders of record on Tuesday, September 30th were given a dividend of $0.5275 per share. The ex-dividend date was Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.8%. Lineage’s dividend payout ratio (DPR) is currently -267.09%.

Insider Activity at Lineage

In other news, CFO Robb A. Lemasters acquired 30,000 shares of the company’s stock in a transaction dated Thursday, November 13th. The stock was acquired at an average cost of $33.74 per share, with a total value of $1,012,200.00. Following the completion of the purchase, the chief financial officer owned 60,000 shares of the company’s stock, valued at $2,024,400. This represents a 100.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Kevin Patrick Marchetti acquired 14,500 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average price of $33.72 per share, for a total transaction of $488,940.00. Following the acquisition, the chairman directly owned 89,168 shares in the company, valued at approximately $3,006,744.96. This trade represents a 19.42% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 129,000 shares of company stock valued at $4,366,940. 71.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Lineage

Several institutional investors have recently bought and sold shares of LINE. Norges Bank acquired a new stake in shares of Lineage during the second quarter worth about $606,642,000. Darlington Partners Capital Management LP grew its holdings in shares of Lineage by 45.5% in the third quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock valued at $198,332,000 after purchasing an additional 1,605,810 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Lineage by 75.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,364,697 shares of the company’s stock worth $255,903,000 after buying an additional 1,880,587 shares during the period. Capital Research Global Investors increased its stake in Lineage by 4.0% during the 3rd quarter. Capital Research Global Investors now owns 3,152,949 shares of the company’s stock worth $121,830,000 after buying an additional 120,616 shares during the period. Finally, State Street Corp lifted its holdings in Lineage by 8.9% during the 2nd quarter. State Street Corp now owns 1,780,270 shares of the company’s stock worth $78,402,000 after buying an additional 145,742 shares in the last quarter.

Lineage Company Profile

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.