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

Shares of Lineage, Inc. (NASDAQ:LINE) have received a consensus rating of “Hold” from the nineteen ratings firms that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $44.1176.

A number of analysts recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Lineage from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Piper Sandler dropped their price target on shares of Lineage from $43.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Royal Bank Of Canada upped their price target on shares of Lineage from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. Wells Fargo & Company dropped their price target on shares of Lineage from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, June 1st. Finally, Morgan Stanley upped their price target on shares of Lineage from $39.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 2nd.

Lineage Trading Up 2.5%

NASDAQ:LINE opened at $45.10 on Thursday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.76 and a current ratio of 0.85. The firm has a market cap of $10.27 billion, a price-to-earnings ratio of -72.74 and a beta of 0.87. The firm has a 50-day moving average price of $40.55 and a two-hundred day moving average price of $37.81. Lineage has a 52 week low of $31.33 and a 52 week high of $45.37.

Lineage (NASDAQ:LINE) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $1.01. Lineage had a negative return on equity of 1.56% and a negative net margin of 2.72%.The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the business posted $0.86 earnings per share. Lineage’s revenue was up .4% on a year-over-year basis. On average, equities analysts expect that Lineage will post 2.44 earnings per share for the current fiscal year.

Lineage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, June 30th will be issued a dividend of $0.5325 per share. This represents a $2.13 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Lineage’s dividend payout ratio is -343.55%.

Hedge Funds Weigh In On Lineage

A number of institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Lineage in the 4th quarter worth approximately $482,255,000. Darlington Partners Capital Management LP lifted its holdings in shares of Lineage by 45.5% in the 3rd quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock worth $198,332,000 after acquiring an additional 1,605,810 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Lineage by 378.6% in the 4th quarter. Morgan Stanley now owns 5,017,332 shares of the company’s stock worth $175,607,000 after acquiring an additional 3,968,958 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Lineage by 712.1% in the 1st quarter. Bank of America Corp DE now owns 3,610,123 shares of the company’s stock worth $118,268,000 after acquiring an additional 3,165,593 shares during the last quarter. Finally, Capital Research Global Investors lifted its holdings in shares of Lineage by 4.0% in the 3rd quarter. Capital Research Global Investors now owns 3,152,949 shares of the company’s stock worth $121,830,000 after acquiring an additional 120,616 shares during the last quarter.

About Lineage

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.