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

by · The Markets Daily

Lineage, Inc. (NASDAQ:LINEGet Free Report) has earned an average recommendation of “Hold” from the seventeen brokerages that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $44.20.

A number of equities analysts have weighed in on the company. Mizuho raised Lineage from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $40.00 to $47.00 in a research report on Tuesday, July 28th. Morgan Stanley lifted their target price on Lineage from $39.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 2nd. Citigroup boosted their target price on Lineage from $42.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Robert W. Baird set a $43.00 price target on Lineage in a research note on Thursday, August 6th. Finally, UBS Group raised their price target on Lineage from $35.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, July 17th.

Check Out Our Latest Research Report on Lineage

Key Headlines Impacting Lineage

Here are the key news stories impacting Lineage this week:

  • Positive Sentiment: Lineage is seeking more than $1 billion in damages from Altus Power and contractor Pearce Services, alleging that they ignored safety warnings, re-energized a defective rooftop solar array and caused the June 17 fire that destroyed its 500,000-square-foot Boyle Heights facility. A successful claim could help offset property, inventory, cleanup and business-interruption losses. Lineage Sues Solar-Panel Operator Over L.A. Warehouse Fire
  • Positive Sentiment: The recovery effort and investor case remain constructive. Lineage says cleanup is complete after more than 210,000 worker hours, while it has provided financial and logistical support to affected residents. Separately, an analyst view maintained a Buy rating, citing Lineage’s second-quarter earnings beat and raised full-year AFFO guidance of $2.80–$3.05 per share. Lineage: The Recovery May Be Delayed, But Not Broken
  • Neutral Sentiment: The lawsuit is only an initial legal step. Any recovery could take years and depends on proving negligence and collecting damages. California legislation proposed in response to the fire is also awaiting action from the governor, adding potential regulatory implications. Legislation in Response to Lineage Fire Awaits Governor Action
  • Negative Sentiment: The fire remains a major operational and financial overhang. Lineage lost a large facility, and the public dispute highlights safety, insurance, remediation and business-continuity risks. The company also reported modest revenue growth and negative net margin in its latest quarter, leaving investors sensitive to further disruption or unexpected costs. Lineage Sues Altus Power and Pearce Services

Insider Buying and Selling at Lineage

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

Institutional Investors Weigh In On Lineage

Hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new stake in Lineage in the 4th quarter valued at $482,255,000. BlackRock Inc. bought a new position in Lineage during the 2nd quarter worth $227,511,000. Morgan Stanley increased its position in Lineage by 378.6% during the 4th quarter. Morgan Stanley now owns 5,017,332 shares of the company’s stock worth $175,607,000 after buying an additional 3,968,958 shares during the period. Bank of America Corp DE acquired a new stake in shares of Lineage during the second quarter worth $156,045,000. Finally, California State Teachers Retirement System lifted its holdings in shares of Lineage by 4,146.9% during the second quarter. California State Teachers Retirement System now owns 3,404,208 shares of the company’s stock worth $147,232,000 after buying an additional 3,324,051 shares in the last quarter.

Lineage Stock Performance

Shares of LINE opened at $37.75 on Tuesday. The firm has a 50-day moving average of $41.47 and a 200-day moving average of $39.84. Lineage has a one year low of $31.33 and a one year high of $45.75. The company has a market cap of $8.60 billion, a PE ratio of -52.43 and a beta of 0.82. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.78 and a quick ratio of 0.70.

Lineage (NASDAQ:LINEGet Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.98. Lineage had a negative net margin of 3.15% and a negative return on equity of 1.85%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the firm earned $0.81 EPS. Lineage’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities analysts forecast that Lineage will post 2.5 earnings per share for the current year.

Lineage Company Profile

(Get Free Report)

Lineage, Inc (NASDAQ: LINE) is a global real estate investment trust focused on temperature-controlled industrial properties and the food supply chain. The company owns, operates and develops a network of cold-storage facilities designed to preserve perishable products, including frozen and refrigerated food, from production through distribution and retail.

Lineage provides temperature-controlled warehousing, inventory management, transportation coordination and related supply-chain services.

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