Lineage (NASDAQ:LINE) Cut to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Lineage (NASDAQ:LINE) from an overweight rating to a neutral rating in a research note released on Friday morning, Marketbeat.com reports. JPMorgan Chase & Co. currently has $75.00 price target on the stock, down from their previous price target of $78.00.

Other research analysts have also recently issued reports about the company. Robert W. Baird dropped their price target on Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Evercore ISI dropped their target price on Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Capital One Financial started coverage on Lineage in a report on Monday, September 16th. They set an “overweight” rating and a $91.00 price target on the stock. The Goldman Sachs Group lowered their price objective on Lineage from $104.00 to $89.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Finally, Wells Fargo & Company lifted their target price on shares of Lineage from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.50.

Lineage Trading Up 2.9 %

Lineage stock opened at $58.57 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. Lineage has a 12-month low of $56.67 and a 12-month high of $89.85. The company has a 50-day simple moving average of $67.64.

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). The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 earnings per share. As a group, equities research analysts forecast that Lineage will post 3 EPS for the current year.

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Tuesday, December 31st.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP acquired a new stake in Lineage in the third quarter worth $265,895,000. Victory Capital Management Inc. bought a new position in shares of Lineage during the 3rd quarter worth about $176,790,000. Principal Financial Group Inc. acquired a new stake in shares of Lineage in the 3rd quarter valued at about $173,115,000. Baillie Gifford & Co. bought a new stake in Lineage in the 3rd quarter valued at about $134,351,000. Finally, Janus Henderson Group PLC acquired a new position in Lineage during the 3rd quarter worth approximately $131,875,000.

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.