Lineage (NASDAQ:LINE) Reaches New 12-Month Low After Analyst Downgrade

Lineage, Inc. (NASDAQ:LINE) reached a new 52-week low during mid-day trading on Thursday after Robert W. Baird lowered their price target on the stock from $91.00 to $85.00. Robert W. Baird currently has an outperform rating on the stock. Lineage traded as low as $67.12 and last traded at $67.12, with a volume of 58041 shares traded. The stock had previously closed at $67.80.

Other equities analysts have also issued research reports about the company. Truist Financial initiated coverage on Lineage in a research report on Monday, August 19th. They set a “buy” rating and a $94.00 price objective for the company. Scotiabank reduced their price target on shares of Lineage from $95.00 to $94.00 and set a “sector outperform” rating on the stock in a report on Monday, August 26th. UBS Group assumed coverage on Lineage in a report on Monday, August 19th. They set a “neutral” rating and a $88.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on Lineage in a report on Monday, August 19th. They issued an “overweight” rating and a $93.00 price target for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $94.00 price objective on shares of Lineage in a research report on Tuesday, September 3rd. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.50.

Hedge Funds Weigh In On Lineage

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE bought a new position in shares of Lineage during the third quarter worth about $25,000. Spirit of America Management Corp NY acquired a new position in Lineage in the 3rd quarter worth approximately $165,000. Amalgamated Bank purchased a new position in shares of Lineage during the third quarter valued at $255,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Lineage in the third quarter worth approximately $312,000. Finally, Villere ST Denis J & Co. LLC acquired a new position in Lineage in the 3rd quarter worth about $314,000.

Lineage Stock Up 0.4 %

The company has a quick ratio of 0.95, a current ratio of 1.10 and a debt-to-equity ratio of 1.93. The business has a fifty day moving average of $78.01.

Lineage Dividend Announcement

The business also recently declared a — dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, September 30th were paid a dividend of $0.38 per share. The ex-dividend date was Monday, September 30th.

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.