Lineage, Inc. (NASDAQ:LINE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Lineage, Inc. (NASDAQ:LINE) has been given an average recommendation of “Moderate Buy” by the seventeen brokerages that are presently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $88.50.

LINE has been the topic of a number of recent research reports. Robert W. Baird lowered their target price on Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Wells Fargo & Company raised their price objective on shares of Lineage from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group decreased their target price on shares of Lineage from $104.00 to $89.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Royal Bank of Canada dropped their price target on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Finally, Scotiabank lowered their target price on shares of Lineage from $94.00 to $76.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, December 10th.

Lineage Price Performance

LINE opened at $58.57 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Lineage has a 12-month low of $56.67 and a 12-month high of $89.85. The stock’s 50 day simple moving average is $67.64.

Lineage (NASDAQ:LINE) last issued its earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.34 billion. During the same period last year, the business earned $0.75 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. As a group, sell-side analysts predict that Lineage will post 3 earnings per share for the current year.

Lineage Announces Dividend

The company also recently disclosed 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. This represents a $2.11 annualized dividend and a yield of 3.60%. The ex-dividend date is Tuesday, December 31st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE purchased a new stake in Lineage in the 3rd quarter valued at $25,000. Larson Financial Group LLC purchased a new stake in shares of Lineage in the third quarter valued at about $34,000. Spirit of America Management Corp NY purchased a new stake in shares of Lineage in the third quarter valued at about $165,000. Stifel Financial Corp acquired a new stake in Lineage during the third quarter worth about $211,000. Finally, MetLife Investment Management LLC purchased a new position in Lineage during the third quarter worth about $226,000.

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.