Lineage (NASDAQ:LINE) Sets New 12-Month Low – What’s Next?

Lineage, Inc. (NASDAQ:LINE) reached a new 52-week low on Tuesday . The company traded as low as $56.67 and last traded at $56.69, with a volume of 231715 shares. The stock had previously closed at $58.88.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Mizuho dropped their price target on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. downgraded shares of Lineage from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $78.00 to $75.00 in a research report on Friday, December 20th. Robert W. Baird cut their price objective on Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Scotiabank cut their price target on shares of Lineage from $94.00 to $76.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, December 10th. Finally, Capital One Financial began coverage on shares of Lineage in a research note on Monday, September 16th. They issued an “overweight” rating and a $91.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.31.

Lineage Stock Down 0.9 %

The firm’s fifty day moving average is $62.85. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Lineage (NASDAQ:LINE) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the business posted $0.75 EPS. The company’s quarterly revenue was up .5% on a year-over-year basis. On average, sell-side analysts forecast that Lineage, Inc. will post 3 EPS for the current fiscal year.

Lineage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date is Tuesday, December 31st.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP bought a new position in shares of Lineage in the third quarter valued at approximately $265,895,000. Victory Capital Management Inc. purchased a new stake in Lineage in the 3rd quarter worth approximately $176,790,000. Principal Financial Group Inc. bought a new position in Lineage in the 3rd quarter valued at $173,115,000. Baillie Gifford & Co. bought a new position in Lineage in the 3rd quarter worth about $134,351,000. Finally, Janus Henderson Group PLC purchased a new position in Lineage in the third quarter worth $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.