Lineage (NASDAQ:LINE) Hits New 52-Week Low – Should You Sell?

Shares of Lineage, Inc. (NASDAQ:LINE) hit a new 52-week low during trading on Monday . The company 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.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LINE. Capital One Financial initiated coverage on Lineage in a research note on Monday, September 16th. They issued an “overweight” rating and a $91.00 price target on the stock. Robert W. Baird decreased their target price on Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Evercore ISI lowered their price target on Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. cut shares of Lineage from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $78.00 to $75.00 in a report on Friday, December 20th. Finally, Royal Bank of Canada lowered their target price on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.31.

Lineage Trading Down 0.5 %

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 firm has a 50 day moving average of $62.16.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the business earned $0.75 EPS. Lineage’s revenue for the quarter was up .5% on a year-over-year basis. As a group, research analysts forecast that Lineage, Inc. will post 3 EPS for the current fiscal year.

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Tuesday, December 31st.

Hedge Funds Weigh In On Lineage

Several hedge funds and other institutional investors have recently bought and sold shares of LINE. GAMMA Investing LLC lifted its stake in Lineage by 7,466.7% in the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after buying an additional 448 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Lineage in the third quarter valued at $12,542,000. Principal Financial Group Inc. acquired a new stake in shares of Lineage during the third quarter valued at $173,115,000. Teachers Retirement System of The State of Kentucky purchased a new stake in Lineage during the 3rd quarter worth about $7,804,000. Finally, Geode Capital Management LLC acquired a new position in Lineage in the 3rd quarter valued at about $91,161,000.

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.