Lineage (NASDAQ:LINE) Lowered to “Strong Sell” Rating by Zacks Research

Lineage (NASDAQ:LINE) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research firms also recently weighed in on LINE. The Goldman Sachs Group cut their price target on Lineage from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Mizuho reduced their target price on shares of Lineage from $44.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Weiss Ratings restated a “sell (d)” rating on shares of Lineage in a research note on Monday, December 29th. Baird R W lowered shares of Lineage from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 18th. Finally, Truist Financial set a $40.00 target price on Lineage in a research report on Monday, December 22nd. Three investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $42.06.

Lineage Stock Performance

Shares of LINE stock opened at $36.93 on Tuesday. Lineage has a 52 week low of $32.46 and a 52 week high of $62.30. The firm’s 50-day simple moving average is $35.14 and its two-hundred day simple moving average is $39.06. The firm has a market cap of $8.43 billion, a price-to-earnings ratio of -46.75 and a beta of -0.19. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.86 and a current ratio of 0.99.

Lineage (NASDAQ:LINE) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. Lineage had a negative net margin of 3.30% and a negative return on equity of 1.85%. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the firm posted $0.90 EPS. Lineage’s revenue was up 3.1% on a year-over-year basis. As a group, equities analysts forecast that Lineage will post 2.34 earnings per share for the current year.

Insiders Place Their Bets

In other Lineage news, CFO Robb A. Lemasters purchased 30,000 shares of the stock in a transaction on Thursday, November 13th. The shares were purchased at an average price of $33.74 per share, with a total value of $1,012,200.00. Following the acquisition, the chief financial officer directly owned 60,000 shares in the company, valued at approximately $2,024,400. The trade was a 100.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Crisci acquired 10,000 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were acquired at an average cost of $34.56 per share, with a total value of $345,600.00. Following the acquisition, the chief financial officer directly owned 107,859 shares of the company’s stock, valued at $3,727,607.04. This represents a 10.22% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 129,000 shares of company stock worth $4,366,940 over the last three months. Corporate insiders own 71.90% of the company’s stock.

Institutional Investors Weigh In On Lineage

Hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. grew its position in Lineage by 110.2% in the second quarter. Rockefeller Capital Management L.P. now owns 22,927 shares of the company’s stock worth $998,000 after acquiring an additional 12,021 shares in the last quarter. Corient Private Wealth LLC lifted its stake in Lineage by 590.5% during the second quarter. Corient Private Wealth LLC now owns 88,680 shares of the company’s stock worth $3,859,000 after purchasing an additional 75,838 shares during the last quarter. GCM Grosvenor Holdings LLC bought a new stake in Lineage during the second quarter worth about $13,146,000. Becker Capital Management Inc. purchased a new position in shares of Lineage in the 2nd quarter worth about $1,298,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Lineage by 26.3% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,373 shares of the company’s stock valued at $669,000 after purchasing an additional 3,201 shares during the last quarter.

About Lineage

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.