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

Lineage, Inc. (NASDAQ:LINE) has received an average recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the firm, MarketBeat.com reports. Six 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 1 year target price among analysts that have issued a report on the stock in the last year is $88.50.

A number of equities analysts have recently weighed in on the company. Scotiabank cut their price target on Lineage from $94.00 to $76.00 and set a “sector outperform” rating for the company in a report on Tuesday, December 10th. Evercore ISI reduced their target price on shares of Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. The Goldman Sachs Group cut their price objective on shares of Lineage from $104.00 to $89.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Capital One Financial assumed coverage on Lineage in a report on Monday, September 16th. They issued an “overweight” rating and a $91.00 price target for the company. Finally, Robert W. Baird lowered their price objective on Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th.

Lineage Stock Up 0.5 %

NASDAQ:LINE opened at $58.87 on Friday. Lineage has a 52-week low of $56.67 and a 52-week high of $89.85. 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 price is $66.22.

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

Lineage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be given a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Tuesday, December 31st.

Hedge Funds Weigh In On Lineage

Hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp acquired a new stake in Lineage in the 3rd quarter valued at $833,000. TOMS Capital Investment Management LP purchased a new position in Lineage in the 3rd quarter valued at about $15,676,000. Sequoia Financial Advisors LLC purchased a new stake in Lineage during the 3rd quarter worth approximately $23,893,000. Nicola Wealth Management LTD. bought a new stake in shares of Lineage in the 3rd quarter worth about $658,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Lineage in the 3rd quarter valued at about $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.