Lineage (NASDAQ:LINE) Given New $44.00 Price Target at Truist Financial

Lineage (NASDAQ:LINE) had its target price hoisted by Truist Financial from $41.00 to $44.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued research reports about the company. Piper Sandler increased their price target on Lineage from $41.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, February 27th. Morgan Stanley cut their price objective on shares of Lineage from $46.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 16th. Zacks Research lowered shares of Lineage from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Evercore dropped their price target on shares of Lineage from $44.00 to $38.00 and set an “in-line” rating for the company in a research note on Monday, November 10th. Finally, Barclays reissued a “positive” rating on shares of Lineage in a research report on Wednesday, February 4th. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $43.00.

Lineage Stock Up 1.4%

Shares of NASDAQ:LINE opened at $40.54 on Wednesday. The company has a market cap of $9.25 billion, a price-to-earnings ratio of -94.28 and a beta of -0.42. Lineage has a 12 month low of $32.46 and a 12 month high of $62.30. The company has a current ratio of 0.80, a quick ratio of 0.71 and a debt-to-equity ratio of 0.79. The company has a 50-day moving average price of $37.02 and a 200 day moving average price of $37.83.

Lineage (NASDAQ:LINE) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.70). The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.38 billion. Lineage had a negative return on equity of 1.06% and a negative net margin of 1.87%.The company’s revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.83 earnings per share. As a group, equities research analysts predict that Lineage will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Wednesday, December 31st were given a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Wednesday, December 31st. Lineage’s payout ratio is -490.70%.

Institutional Trading of Lineage

Several institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Lineage in the second quarter valued at approximately $606,642,000. Morgan Stanley lifted its holdings in shares of Lineage by 378.6% in 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. Darlington Partners Capital Management LP lifted its holdings in shares of Lineage by 45.5% in the 3rd quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock worth $198,332,000 after buying an additional 1,605,810 shares during the period. AQR Capital Management LLC grew its position in shares of Lineage by 636.1% during the 4th quarter. AQR Capital Management LLC now owns 1,330,439 shares of the company’s stock worth $46,273,000 after buying an additional 1,149,686 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new position in shares of Lineage during the third quarter valued at $43,804,000.

About Lineage

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.