Lineage (NASDAQ:LINE) Reaches New 12-Month Low – Here’s Why

Shares of Lineage, Inc. (NASDAQ:LINE) hit a new 52-week low on Monday . The stock traded as low as $54.76 and last traded at $54.76, with a volume of 44965 shares traded. The stock had previously closed at $55.47.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. cut Lineage from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $78.00 to $75.00 in a research note on Friday, December 20th. Evercore ISI decreased their price objective on shares of Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Robert W. Baird dropped their target price on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. BNP Paribas initiated coverage on shares of Lineage in a report on Tuesday. They issued a “neutral” rating and a $61.00 price target for the company. Finally, Mizuho dropped their price objective on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.76.

Lineage Price Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. The stock’s fifty day moving average is $61.47.

Lineage (NASDAQ:LINE) last posted 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). The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Equities research analysts predict that Lineage, Inc. will post 3 EPS for the current fiscal year.

Lineage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Tuesday, December 31st.

Hedge Funds Weigh In On Lineage

A number of large investors have recently bought and sold shares of LINE. Van ECK Associates Corp purchased a new stake in shares of Lineage in the third quarter valued at approximately $833,000. TOMS Capital Investment Management LP acquired a new stake in Lineage in the 3rd quarter valued at $15,676,000. Sequoia Financial Advisors LLC purchased a new stake in Lineage in the 3rd quarter worth $23,893,000. Nicola Wealth Management LTD. acquired a new position in Lineage during the third quarter worth $658,000. Finally, Principal Financial Group Inc. purchased a new position in Lineage during the third quarter valued at $173,115,000.

Lineage Company Profile

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.