Lineage (NASDAQ:LINE) Hits New 52-Week Low – Should You Sell?

Lineage, Inc. (NASDAQ:LINE) reached a new 52-week low during trading on Tuesday . The company traded as low as $62.43 and last traded at $62.57, with a volume of 933755 shares. The stock had previously closed at $63.31.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LINE. Robert W. Baird cut their target price on Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Capital One Financial began coverage on Lineage in a report on Monday, September 16th. They set an “overweight” rating and a $91.00 price target on the stock. The Goldman Sachs Group lowered their target price on Lineage from $104.00 to $89.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Piper Sandler began coverage on Lineage in a report on Monday, August 19th. They issued an “overweight” rating and a $102.00 target price on the stock. Finally, Morgan Stanley began coverage on Lineage in a report on Monday, August 19th. They issued an “overweight” rating and a $100.00 target price on the stock. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $90.75.

Lineage Stock Performance

The business’s fifty day moving average is $71.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95.

Lineage (NASDAQ:LINE) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($3.22). The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 EPS. As a group, equities research analysts expect that Lineage, Inc. will post 3 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The business also recently announced a — dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, September 30th were issued a $0.38 dividend. The ex-dividend date was Monday, September 30th.

Hedge Funds Weigh In On Lineage

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

About Lineage

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.