Lineage (NASDAQ:LINE) Given New $73.00 Price Target at Scotiabank

Lineage (NASDAQ:LINE) had its price objective lowered by Scotiabank from $76.00 to $73.00 in a research note released on Monday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

LINE has been the topic of several other reports. Mizuho dropped their price target on Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird dropped their target price on Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. The Goldman Sachs Group decreased their price target on shares of Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a report on Friday, January 17th. Royal Bank of Canada dropped their price objective on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. downgraded shares of Lineage from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $78.00 to $75.00 in a research report on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $84.88.

Lineage Stock Down 3.0 %

LINE stock opened at $58.18 on Monday. Lineage has a one year low of $52.75 and a one year high of $89.85. The firm’s 50-day moving average price is $59.77. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Lineage (NASDAQ:LINE) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($2.44) EPS for the quarter, missing the consensus estimate of $0.78 by ($3.22). Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the company posted $0.75 EPS. The firm’s revenue was up .5% compared to the same quarter last year. As a group, equities research analysts predict that Lineage will post 2.33 earnings per share for the current fiscal year.

Lineage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend was Tuesday, December 31st.

Institutional Investors Weigh In On Lineage

Several hedge funds and other institutional investors have recently made changes to their positions in LINE. Wellington Management Group LLP bought a new stake in Lineage during the 3rd quarter valued at approximately $265,895,000. Baillie Gifford & Co. boosted its position in shares of Lineage by 80.8% in the fourth quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company’s stock valued at $181,484,000 after acquiring an additional 1,384,481 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Lineage in the third quarter worth $176,790,000. Principal Financial Group Inc. bought a new position in Lineage during the third quarter worth $173,115,000. Finally, Janus Henderson Group PLC bought a new position in Lineage during the third quarter worth $131,875,000.

About Lineage

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.