Piper Sandler Cuts Lineage (NASDAQ:LINE) Price Target to $35.00

Lineage (NASDAQ:LINE) had its target price trimmed by Piper Sandler from $43.00 to $35.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also recently issued reports about the company. Barclays restated a “positive” rating on shares of Lineage in a research note on Wednesday, February 4th. The Goldman Sachs Group lifted their price target on shares of Lineage from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, March 20th. Scotiabank boosted their price objective on shares of Lineage from $39.00 to $42.00 and gave the company a “hold” rating in a research report on Wednesday, March 11th. Compass Point began coverage on shares of Lineage in a report on Wednesday, March 18th. They issued a “buy” rating and a $47.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lineage in a report on Friday, March 27th. Five research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.28.

Lineage Stock Performance

NASDAQ LINE opened at $32.93 on Wednesday. The company has a market capitalization of $7.48 billion, a price-to-earnings ratio of -76.58 and a beta of 0.10. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.80 and a quick ratio of 0.71. Lineage has a 12 month low of $31.33 and a 12 month high of $58.86. The company’s fifty day moving average price is $37.10 and its two-hundred day moving average price is $37.07.

Lineage (NASDAQ:LINE) last released its earnings results 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). Lineage had a negative return on equity of 1.06% and a negative net margin of 1.87%.The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the firm posted $0.83 EPS. Lineage’s revenue for the quarter was down .2% on a year-over-year basis. As a group, research analysts predict that Lineage will post 2.34 earnings per share for the current fiscal year.

Lineage Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 21st. Shareholders of record on Tuesday, March 31st will be issued a $0.5325 dividend. This is an increase from Lineage’s previous quarterly dividend of $0.53. This represents a $2.13 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Tuesday, March 31st. Lineage’s dividend payout ratio is currently -495.35%.

Insider Activity at Lineage

In related news, Chairman Kevin Patrick Marchetti acquired 13,300 shares of Lineage stock in a transaction dated Thursday, March 12th. The stock was acquired at an average cost of $37.50 per share, with a total value of $498,750.00. Following the purchase, the chairman directly owned 113,690 shares in the company, valued at $4,263,375. The trade was a 13.25% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 71.90% of the company’s stock.

Institutional Trading of Lineage

Hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp raised its holdings in shares of Lineage by 82.2% during the third quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock valued at $25,000 after acquiring an additional 300 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Lineage by 172.4% in the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after purchasing an additional 362 shares in the last quarter. Rothschild Investment LLC boosted its position in shares of Lineage by 575.2% in the fourth quarter. Rothschild Investment LLC now owns 736 shares of the company’s stock worth $26,000 after buying an additional 627 shares during the period. Caitlin John LLC acquired a new stake in shares of Lineage in the third quarter worth $31,000. Finally, Allworth Financial LP grew its holdings in shares of Lineage by 106.6% during the fourth quarter. Allworth Financial LP now owns 940 shares of the company’s stock valued at $33,000 after buying an additional 485 shares in the last quarter.

Lineage Company Profile

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.