Lineage (NASDAQ:LINE) Stock Gets Price Target Cut from UBS Group

Lineage (NASDAQ:LINE) had its target price trimmed by UBS Group from $45.00 to $36.00 in a report issued on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also weighed in on the stock. Royal Bank Of Canada increased their target price on shares of Lineage from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, August 17th. Wall Street Zen raised shares of Lineage from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Scotiabank lowered their price target on shares of Lineage from $44.00 to $39.00 and set a “hold” rating on the stock in a research report on Friday, October 2nd. JPMorgan Chase & Co. dropped their price target on shares of Lineage from $40.00 to $37.00 and set an “underweight” rating on the stock in a research note on Thursday, October 15th. Finally, The Goldman Sachs Group set a $53.00 price objective on shares of Lineage in a report on Wednesday, August 12th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Lineage presently has an average rating of “Hold” and a consensus price target of $42.53.

Lineage Stock Up 2.4%

LINE stock opened at $35.09 on Tuesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.78. The company has a market capitalization of $7.99 billion, a price-to-earnings ratio of -48.74 and a beta of 0.86. Lineage has a fifty-two week low of $31.33 and a fifty-two week high of $45.75. The stock has a fifty day moving average of $37.17 and a 200-day moving average of $39.53.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.98. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the firm posted $0.81 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities research analysts predict that Lineage will post 2.48 earnings per share for the current year.

Lineage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 21st. Shareholders of record on Wednesday, September 30th were paid a $0.5325 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $2.13 annualized dividend and a yield of 6.1%. Lineage’s dividend payout ratio (DPR) is currently -295.83%.

Insider Transactions at Lineage

In related news, Chairman Kevin Marchetti purchased 25,000 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were purchased at an average cost of $39.50 per share, for a total transaction of $987,500.00. Following the completion of the transaction, the chairman directly owned 138,690 shares in the company, valued at approximately $5,478,255. This represents a 21.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Robb A. Lemasters purchased 20,000 shares of the stock in a transaction dated Friday, August 7th. The stock was purchased at an average cost of $41.33 per share, for a total transaction of $826,600.00. Following the completion of the acquisition, the chief financial officer owned 49,500 shares of the company’s stock, valued at approximately $2,045,835. This represents a 67.80% increase in their position. The disclosure for this purchase is available in the SEC filing. 71.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Lineage

Several hedge funds have recently bought and sold shares of the company. Paralel Advisors LLC bought a new stake in Lineage during the 2nd quarter worth approximately $26,000. Global Retirement Partners LLC purchased a new stake in Lineage in the 2nd quarter worth approximately $48,000. Root Financial Partners LLC purchased a new stake in Lineage in the 3rd quarter worth approximately $49,000. Parallel Advisors LLC lifted its stake in Lineage by 172.7% in the 1st quarter. Parallel Advisors LLC now owns 1,650 shares of the company’s stock worth $54,000 after purchasing an additional 1,045 shares in the last quarter. Finally, Caitlin John LLC bought a new position in Lineage in the 2nd quarter valued at $83,000.

Lineage Company Profile

Lineage, Inc (NASDAQ:LINE) is a real estate investment trust that owns and operates temperature-controlled warehouses and related cold-chain infrastructure. The company provides storage, handling and logistics services for food and other perishable products, helping customers preserve product quality as goods move from producers and manufacturers to retailers and consumers.

Its services include refrigerated and frozen warehousing, transportation coordination, inventory management, food distribution and supply-chain technology.