Lineage (NASDAQ:LINE) Sets New 1-Year Low – Here’s Why

Lineage, Inc. (NASDAQ:LINE) reached a new 52-week low during trading on Monday . The stock traded as low as $60.84 and last traded at $61.15, with a volume of 1015595 shares traded. The stock had previously closed at $62.02.

Analyst Ratings Changes

A number of equities analysts recently commented on LINE shares. Capital One Financial initiated coverage on shares of Lineage in a research note on Monday, September 16th. They set an “overweight” rating and a $91.00 price target for the company. Scotiabank reduced 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. Royal Bank of Canada dropped their price objective on Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Wells Fargo & Company lifted their target price on Lineage from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Finally, Evercore ISI cut their price target on shares of Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.63.

Lineage Trading Down 1.7 %

The stock has a fifty day simple moving average of $68.32. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95.

Lineage (NASDAQ:LINE) last released 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 firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 earnings per share. As a group, equities analysts forecast that Lineage, Inc. will post 3 EPS for the current year.

Lineage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be paid a $0.5275 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.11 dividend on an annualized basis and a yield of 3.55%.

Hedge Funds Weigh In On Lineage

A number of institutional investors have recently bought and sold shares of LINE. SG Americas Securities LLC acquired a new stake in Lineage during the third quarter worth about $658,000. Perpetual Ltd acquired a new stake in shares of Lineage during the 3rd quarter worth approximately $324,000. Renaissance Capital LLC purchased a new position in shares of Lineage during the 3rd quarter valued at approximately $5,209,000. Vontobel Holding Ltd. acquired a new position in shares of Lineage in the 3rd quarter valued at $1,026,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Lineage during the third quarter worth $3,582,000.

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.