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

Lineage (NASDAQ:LINE) had its price objective cut by Mizuho from $86.00 to $67.00 in a report released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also recently weighed in on LINE. Scotiabank reduced their price objective on Lineage from $94.00 to $76.00 and set a “sector outperform” rating for the company in a research report on Tuesday, December 10th. Royal Bank of Canada reduced their price target on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Capital One Financial initiated coverage on shares of Lineage in a report on Monday, September 16th. They set an “overweight” rating and a $91.00 price objective on the stock. Evercore ISI reduced their target price on shares of Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. lowered Lineage from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $78.00 to $75.00 in a research note on Friday, December 20th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.31.

Lineage Trading Down 0.9 %

NASDAQ:LINE opened at $56.47 on Wednesday. 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 1 year low of $56.20 and a 1 year high of $89.85. The firm has a fifty day moving average price of $62.85.

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

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Tuesday, December 31st.

Institutional Trading of Lineage

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