Mizuho Lowers Lineage (NASDAQ:LINE) Price Target to $67.00

Lineage (NASDAQ:LINE) had its price objective trimmed by Mizuho from $86.00 to $67.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts have also recently issued reports on the company. JPMorgan Chase & Co. cut Lineage from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $78.00 to $75.00 in a report on Friday, December 20th. Royal Bank of Canada cut their price objective on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. The Goldman Sachs Group decreased their target price on shares of Lineage from $104.00 to $89.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Capital One Financial initiated coverage on shares of Lineage in a report on Monday, September 16th. They issued an “overweight” rating and a $91.00 price target for the company. Finally, Evercore ISI decreased their price target 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. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $87.31.

Lineage Price Performance

NASDAQ LINE opened at $55.47 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. The company has a 50 day simple moving average of $62.50. Lineage has a 12-month low of $54.90 and a 12-month high of $89.85.

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 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 business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the firm earned $0.75 EPS. The company’s revenue was up .5% compared to the same quarter last year. On average, equities analysts expect that Lineage will post 3 EPS for the current year.

Lineage Announces Dividend

The company 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 dividend of $0.5275 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.11 annualized dividend and a dividend yield of 3.80%.

Institutional Trading of Lineage

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

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.