Lineage (NASDAQ:LINE) Sets New 1-Year Low – Here’s Why

Lineage, Inc. (NASDAQ:LINE) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $60.84 and last traded at $61.15, with a volume of 1015595 shares traded. The stock had previously closed at $62.02.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Robert W. Baird decreased their price target on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Evercore ISI cut their price target 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. Capital One Financial initiated coverage on Lineage in a report on Monday, September 16th. They issued an “overweight” rating and a $91.00 price objective on the stock. Wells Fargo & Company increased their target price on Lineage from $86.00 to $89.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Finally, Scotiabank decreased their price target on Lineage from $94.00 to $76.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.63.

Lineage Stock Down 1.7 %

The firm has a 50 day simple moving average of $68.32. 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 (NASDAQ:LINE) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share 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 during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the business posted $0.75 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. As a group, research analysts predict that Lineage, Inc. will post 3 earnings per share for the current year.

Lineage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be paid a $0.5275 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.11 dividend on an annualized basis and a yield of 3.55%.

Institutional Investors Weigh In On Lineage

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

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.