Lineage (NASDAQ:LINE) Hits New 1-Year Low on Analyst Downgrade

Lineage, Inc. (NASDAQ:LINE) reached a new 52-week low during trading on Wednesday after Royal Bank of Canada lowered their price target on the stock from $94.00 to $81.00. Royal Bank of Canada currently has an outperform rating on the stock. Lineage traded as low as $65.51 and last traded at $65.51, with a volume of 398 shares. The stock had previously closed at $65.61.

Several other brokerages have also weighed in on LINE. Scotiabank decreased their price objective on Lineage from $95.00 to $94.00 and set a “sector outperform” rating for the company in a report on Monday, August 26th. Mizuho assumed coverage on Lineage in a report on Monday, August 19th. They set a “neutral” rating and a $86.00 target price for the company. Evercore ISI reduced their target price on Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Bank of America started coverage on Lineage in a report on Monday, August 19th. They set a “buy” rating and a $100.00 target price for the company. Finally, The Goldman Sachs Group dropped their target price on Lineage from $105.00 to $104.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Five investment 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $91.69.

Institutional Investors Weigh In On Lineage

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE bought a new position in Lineage in the third quarter valued at about $25,000. Larson Financial Group LLC purchased a new stake in shares of Lineage during the third quarter worth about $34,000. Spirit of America Management Corp NY purchased a new stake in shares of Lineage during the third quarter worth about $165,000. Amalgamated Bank purchased a new position in Lineage during the 3rd quarter valued at approximately $255,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in Lineage during the 3rd quarter valued at approximately $312,000.

Lineage Stock Performance

The business’s fifty day moving average is $77.02. 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 issued its quarterly earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share (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 for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the business posted $0.75 earnings per share. Lineage’s revenue was up .5% on a year-over-year basis. As a group, equities research analysts expect that Lineage, Inc. will post 3 earnings per share for the current fiscal year.

Lineage Announces Dividend

The firm also recently declared a — dividend, which was paid on Monday, October 21st. Investors of record on Monday, September 30th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Monday, September 30th.

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.