Lineage, Inc. (NASDAQ:LINE) Stock Has Average Price Target of $41.93

Shares of Lineage, Inc. (NASDAQ:LINE) have been given a consensus rating of “Hold” by the seventeen analysts that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $41.93.

Several research analysts have recently issued reports on the stock. UBS Group dropped their price objective on shares of Lineage from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, October 20th. JPMorgan Chase & Co. reduced their target price on shares of Lineage from $40.00 to $37.00 and set an “underweight” rating for the company in a research note on Thursday, October 15th. Weiss Ratings upgraded Lineage from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. Evercore set a $43.00 price objective on Lineage in a report on Friday, October 2nd. Finally, Wells Fargo & Company lifted their price objective on Lineage from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 1st.

Insider Transactions at Lineage

In related news, CFO Robb A. Lemasters acquired 20,000 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were bought at an average cost of $41.33 per share, with a total value of $826,600.00. Following the completion of the acquisition, the chief financial officer owned 49,500 shares of the company’s stock, valued at $2,045,835. This trade represents a 67.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Kevin Marchetti acquired 25,000 shares of the stock in a transaction dated Friday, August 28th. The stock was bought at an average price of $39.50 per share, for a total transaction of $987,500.00. Following the completion of the purchase, the chairman owned 138,690 shares in the company, valued at approximately $5,478,255. This trade represents a 21.99% increase in their position. The disclosure for this purchase is available in the SEC filing. 71.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LINE. Paralel Advisors LLC bought a new position in Lineage in the 2nd quarter valued at $26,000. Global Retirement Partners LLC acquired a new stake in shares of Lineage in the 2nd quarter valued at $48,000. Root Financial Partners LLC bought a new stake in shares of Lineage during the third quarter worth $49,000. Parallel Advisors LLC raised its position in shares of Lineage by 172.7% during the first quarter. Parallel Advisors LLC now owns 1,650 shares of the company’s stock worth $54,000 after acquiring an additional 1,045 shares during the last quarter. Finally, Wealth Enhancement Trust Services Inc. raised its position in shares of Lineage by 88.4% during the third quarter. Wealth Enhancement Trust Services Inc. now owns 1,948 shares of the company’s stock worth $66,000 after acquiring an additional 914 shares during the last quarter.

Lineage Trading Down 0.6%

Shares of NASDAQ:LINE opened at $36.00 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.78. The stock’s 50-day moving average is $36.54 and its 200-day moving average is $38.68. The company has a market cap of $8.20 billion, a P/E ratio of -50.00 and a beta of 0.86. Lineage has a 52-week low of $31.33 and a 52-week high of $45.75.

Lineage (NASDAQ:LINE) last announced its earnings results on Wednesday, August 5th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.98. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.81 EPS. Equities research analysts predict that Lineage will post 2.47 earnings per share for the current year.

Lineage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 21st. Stockholders of record on Wednesday, September 30th were paid a $0.5325 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $2.13 dividend on an annualized basis and a dividend yield of 5.9%. Lineage’s dividend payout ratio is currently -295.83%.

About Lineage

Lineage, Inc (NASDAQ:LINE) is a real estate investment trust that owns and operates temperature-controlled warehouses and related cold-chain infrastructure. The company provides storage, handling and logistics services for food and other perishable products, helping customers preserve product quality as goods move from producers and manufacturers to retailers and consumers.

Its services include refrigerated and frozen warehousing, transportation coordination, inventory management, food distribution and supply-chain technology.