Lineage, Inc. (NASDAQ:LINE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Lineage, Inc. (NASDAQ:LINE) has been assigned an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $88.50.

A number of equities analysts recently weighed in on LINE shares. JPMorgan Chase & Co. lowered shares of Lineage from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $78.00 to $75.00 in a research note on Friday, December 20th. The Goldman Sachs Group reduced their price objective on Lineage from $104.00 to $89.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Evercore ISI dropped their target price on Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Capital One Financial initiated coverage on Lineage in a research note on Monday, September 16th. They issued an “overweight” rating and a $91.00 target price on the stock. Finally, Scotiabank decreased their price target on shares of Lineage from $94.00 to $76.00 and set a “sector outperform” rating for the company in a research note on Tuesday, December 10th.

Lineage Trading Up 0.2 %

NASDAQ:LINE opened at $59.00 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The company’s 50-day simple moving average is $65.85. Lineage has a fifty-two week low of $56.67 and a fifty-two week high of $89.85.

Lineage (NASDAQ:LINE) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the firm posted $0.75 EPS. The business’s quarterly revenue was up .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lineage will post 3 EPS for the current year.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be paid a $0.5275 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.11 annualized dividend and a yield of 3.58%.

Hedge Funds Weigh In On Lineage

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP bought a new position in shares of Lineage during the 3rd quarter worth approximately $265,895,000. Victory Capital Management Inc. acquired a new stake in Lineage during the 3rd quarter valued at $176,790,000. Principal Financial Group Inc. bought a new position in Lineage during the third quarter worth $173,115,000. Baillie Gifford & Co. acquired a new position in shares of Lineage in the third quarter valued at $134,351,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Lineage in the third quarter valued at $131,875,000.

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.