Lineage, Inc. (NASDAQ:LINE) Stock Has Average Target Price of $41.93 According to Brokerages

Shares of Lineage, Inc. (NASDAQ:LINE) have earned an average recommendation of “Hold” from the seventeen research firms that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $41.93.

Several research analysts have recently issued reports on the company. Citigroup upped their price objective on Lineage from $42.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Evercore set a $43.00 target price on shares of Lineage in a report on Friday, October 2nd. The Goldman Sachs Group set a $44.00 target price on Lineage and gave the stock a “buy” rating in a research report on Monday, October 26th. Wall Street Zen upgraded Lineage from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Piper Sandler reduced their target price on shares of Lineage from $44.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, October 12th.

Lineage Stock Performance

NASDAQ:LINE opened at $36.00 on Wednesday. The business’s fifty day moving average is $36.54 and its 200 day moving average is $38.68. Lineage has a 52-week low of $31.33 and a 52-week high of $45.75. The firm has a market cap of $8.20 billion, a price-to-earnings ratio of -50.00 and a beta of 0.79. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.78.

Lineage (NASDAQ:LINE) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.98. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%. Lineage’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 earnings per share. Research analysts predict that Lineage will post 2.47 EPS for the current year.

Lineage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 21st. Stockholders of record on Wednesday, September 30th were paid a $0.5325 dividend. This represents a $2.13 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend was Wednesday, September 30th. Lineage’s dividend payout ratio is currently -295.83%.

Insider Activity at Lineage

In related news, Chairman Kevin Marchetti acquired 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were bought at an average cost of $39.50 per share, for a total transaction of $987,500.00. Following the completion of the transaction, the chairman owned 138,690 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robb LeMasters purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were purchased at an average price of $41.33 per share, for a total transaction of $826,600.00. Following the completion of the transaction, the chief financial officer directly owned 49,500 shares of the company’s stock, valued at $2,045,835. This represents a 67.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 71.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Lineage

Several hedge funds have recently added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Lineage in the 3rd quarter worth approximately $1,215,000. Root Financial Partners LLC acquired a new position in Lineage in the third quarter worth approximately $49,000. Frank Rimerman Advisors LLC raised its stake in shares of Lineage by 4.5% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 7,984 shares of the company’s stock valued at $272,000 after buying an additional 345 shares in the last quarter. Wealth Enhancement Trust Services Inc. boosted its holdings in Lineage by 88.4% in the third quarter. Wealth Enhancement Trust Services Inc. now owns 1,948 shares of the company’s stock valued at $66,000 after acquiring an additional 914 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Lineage in the second quarter valued at approximately $232,000.

About Lineage

Lineage, Inc (NASDAQ:LINE) is a real estate investment trust that owns and operates temperature-controlled warehouses and related cold-chain infrastructure. The company provides storage, handling and logistics services for food and other perishable products, helping customers preserve product quality as goods move from producers and manufacturers to retailers and consumers.

Its services include refrigerated and frozen warehousing, transportation coordination, inventory management, food distribution and supply-chain technology.