Lineage (NASDAQ:LINE) Shares Down 3.5% – Here’s What Happened

by · The Markets Daily

Lineage, Inc. (NASDAQ:LINE – Get Free Report) shares dropped 3.5% during trading on Wednesday . The company traded as low as $53.32 and last traded at $53.46. 773,404 shares changed hands during mid-day trading, an increase of 8% from the average daily volume of 718,257 shares. The stock had previously closed at $55.40.

Analyst Upgrades and Downgrades

LINE has been the subject of a number of recent research reports. BNP Paribas began coverage on Lineage in a research report on Tuesday. They set a “neutral” rating and a $61.00 target price for the company. The Goldman Sachs Group dropped their price objective on Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a report on Friday. Royal Bank of Canada cut their target price on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Robert W. Baird lowered their price target on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Finally, Evercore ISI dropped their price target on shares of Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.06.

View Our Latest Analysis on LINE

Lineage Stock Up 1.3 %

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 firm has a fifty day moving average price of $60.99.

Lineage (NASDAQ:LINE – Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the company posted $0.75 earnings per share. Lineage’s revenue for the quarter was up .5% compared to the same quarter last year. On average, sell-side analysts predict that Lineage, Inc. will post 2.33 EPS for the current fiscal year.

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be given a $0.5275 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.11 annualized dividend and a yield of 3.63%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Galvin Gaustad & Stein LLC bought a new stake in Lineage in the 4th quarter valued at approximately $9,338,000. Janney Montgomery Scott LLC lifted its position in shares of Lineage by 1.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 10,154 shares of the company’s stock worth $595,000 after purchasing an additional 185 shares in the last quarter. Alpha Cubed Investments LLC acquired a new position in Lineage during the fourth quarter worth $387,000. Oak Thistle LLC bought a new position in Lineage in the fourth quarter valued at $391,000. Finally, GAMMA Investing LLC increased its stake in Lineage by 7,466.7% in the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after buying an additional 448 shares during the last quarter.

About Lineage

(Get Free Report)

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.

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