Lineage (NASDAQ:LINE) Sets New 1-Year Low After Analyst Downgrade

Shares of Lineage, Inc. (NASDAQ:LINE) hit a new 52-week low during trading on Wednesday after Royal Bank of Canada lowered their price target on the stock from $94.00 to $81.00. Royal Bank of Canada currently has an outperform rating on the stock. Lineage traded as low as $65.51 and last traded at $65.51, with a volume of 398 shares changing hands. The stock had previously closed at $65.61.

LINE has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Lineage in a research note on Monday, August 19th. They issued a “hold” rating and a $90.00 price target on the stock. UBS Group began coverage on Lineage in a research report on Monday, August 19th. They issued a “neutral” rating and a $88.00 price objective on the stock. The Goldman Sachs Group reduced their target price on Lineage from $105.00 to $104.00 and set a “buy” rating for the company in a report on Friday, September 13th. Mizuho started coverage on Lineage in a report on Monday, August 19th. They set a “neutral” rating and a $86.00 price target on the stock. Finally, JPMorgan Chase & Co. assumed coverage on Lineage in a report on Monday, August 19th. They issued an “overweight” rating and a $93.00 price objective for the company. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.69.

Institutional Trading of Lineage

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE purchased a new position in Lineage during the 3rd quarter worth $25,000. Larson Financial Group LLC purchased a new stake in Lineage during the 3rd quarter valued at approximately $34,000. Spirit of America Management Corp NY acquired a new stake in Lineage during the 3rd quarter worth approximately $165,000. Amalgamated Bank purchased a new position in shares of Lineage in the 3rd quarter valued at approximately $255,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Lineage in the third quarter valued at approximately $312,000.

Lineage Trading Down 1.3 %

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. The firm has a 50 day moving average of $76.65.

Lineage (NASDAQ:LINE) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the company earned $0.75 earnings per share. The business’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, research analysts forecast that Lineage, Inc. will post 3 EPS for the current fiscal year.

Lineage Announces Dividend

The business also recently disclosed 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 of this dividend 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.