Lineage, Inc. (NASDAQ:LINE) Stock Has Average Price Target of $43.73 According to Analysts

Lineage, Inc. (NASDAQ:LINE) has been given an average recommendation of “Hold” by the seventeen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $43.73.

LINE has been the topic of a number of analyst reports. Scotiabank cut their target price on Lineage from $44.00 to $39.00 and set a “hold” rating on the stock in a research note on Friday, October 2nd. Mizuho raised Lineage from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $40.00 to $47.00 in a research note on Tuesday, July 28th. Wall Street Zen raised Lineage from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings upgraded Lineage from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 6th. Finally, Evercore set a $43.00 price objective on Lineage in a research report on Friday, October 2nd.

Insiders Place Their Bets

In related news, Chairman Kevin Marchetti purchased 25,000 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were purchased at an average cost of $39.50 per share, for a total transaction of $987,500.00. Following the completion of the acquisition, the chairman owned 138,690 shares in the company, valued at approximately $5,478,255. This trade represents a 21.99% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Robb LeMasters purchased 20,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was bought at an average price of $41.33 per share, for a total transaction of $826,600.00. Following the completion of the acquisition, the chief financial officer owned 49,500 shares of the company’s stock, valued at approximately $2,045,835. The trade was a 67.80% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 71.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lineage

Several large investors have recently added to or reduced their stakes in LINE. BlackRock Inc. bought a new position in shares of Lineage during the 2nd quarter worth $227,511,000. Bank of America Corp DE bought a new stake in shares of Lineage in the second quarter valued at about $156,045,000. Bank of New York Mellon Corp bought a new stake in shares of Lineage in the second quarter valued at about $44,638,000. Canada Pension Plan Investment Board purchased a new stake in Lineage in the second quarter worth about $41,271,000. Finally, Dimensional Fund Advisors LP lifted its stake in Lineage by 134.5% in the first quarter. Dimensional Fund Advisors LP now owns 876,901 shares of the company’s stock worth $28,721,000 after acquiring an additional 503,021 shares during the period.

Lineage Price Performance

LINE stock opened at $34.21 on Friday. The stock has a market cap of $7.79 billion, a PE ratio of -47.51 and a beta of 0.86. Lineage has a 12 month low of $31.33 and a 12 month high of $45.75. The company has a 50-day moving average price of $38.86 and a 200 day moving average price of $39.49. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 0.84.

Lineage (NASDAQ:LINE) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.98. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Lineage had a negative net margin of 3.15% and a negative return on equity of 1.85%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 EPS. Equities research analysts anticipate that Lineage will post 2.5 earnings per share for the current year.

Lineage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.5325 per share. This represents a $2.13 annualized dividend and a dividend yield of 6.2%. The ex-dividend date is Wednesday, September 30th. Lineage’s dividend payout ratio (DPR) is -295.83%.

Lineage Company Profile

Lineage, Inc is a global temperature-controlled industrial real estate and logistics company. It owns, operates and develops cold-storage facilities that help preserve and move perishable food products, including meat, seafood, dairy, fruits, vegetables and prepared foods.

The company provides a range of supply-chain services in addition to refrigerated and frozen warehousing. These services include transportation, distribution, port and rail logistics, food processing support, inventory management and other technology-enabled solutions designed to improve the efficiency and reliability of the food supply chain.

Lineage serves customers across North America, Europe and the Asia-Pacific region, with facilities located near major transportation hubs, ports and population centers.