Mizuho Cuts Lineage (NASDAQ:LINE) Price Target to $67.00

Lineage (NASDAQ:LINE) had its target price decreased by Mizuho from $86.00 to $67.00 in a report issued on Wednesday morning,Benzinga reports. Mizuho currently has a neutral rating on the stock.

Other analysts also recently issued research reports about the stock. Evercore ISI reduced their price objective on shares of Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. The Goldman Sachs Group reduced their price target on shares of Lineage from $104.00 to $89.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Capital One Financial assumed coverage on shares of Lineage in a research report on Monday, September 16th. They set an “overweight” rating and a $91.00 price objective on the stock. Royal Bank of Canada decreased their target price on Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Finally, Scotiabank cut their price target on Lineage from $94.00 to $76.00 and set a “sector outperform” rating on the stock in a report on Tuesday, December 10th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.31.

Lineage Trading Down 1.8 %

LINE opened at $55.47 on Wednesday. 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 has a twelve month low of $54.90 and a twelve month high of $89.85. The business’s fifty day moving average price is $62.50.

Lineage (NASDAQ:LINE) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the business posted $0.75 earnings per share. The business’s revenue was up .5% on a year-over-year basis. As a group, analysts forecast that Lineage will post 3 EPS for the current year.

Lineage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Tuesday, December 31st.

Hedge Funds Weigh In On Lineage

Hedge funds and other institutional investors have recently modified their holdings of the business. US Bancorp DE purchased a new stake in Lineage during the third quarter worth about $25,000. Larson Financial Group LLC bought a new position in shares of Lineage during the 3rd quarter valued at approximately $34,000. GAMMA Investing LLC increased its stake in shares of Lineage by 7,466.7% during the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $27,000 after purchasing an additional 448 shares during the last quarter. Spirit of America Management Corp NY bought a new stake in shares of Lineage in the 3rd quarter worth approximately $165,000. Finally, Stifel Financial Corp purchased a new position in Lineage in the third quarter valued at approximately $211,000.

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.