Lineage (NASDAQ:LINE) Sets New 1-Year Low After Analyst Downgrade

Lineage, Inc. (NASDAQ:LINE) hit a new 52-week low during trading on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $104.00 to $89.00. The Goldman Sachs Group currently has a buy rating on the stock. Lineage traded as low as $65.51 and last traded at $65.51, with a volume of 398 shares trading hands. The stock had previously closed at $65.61.

LINE has been the subject of several other reports. KeyCorp started coverage on Lineage in a research report on Monday, August 19th. They set an “overweight” rating and a $92.00 price target for the company. Morgan Stanley began coverage on Lineage in a research report on Monday, August 19th. They set an “overweight” rating and a $100.00 price target for the company. JPMorgan Chase & Co. began coverage on Lineage in a research report on Monday, August 19th. They issued an “overweight” rating and a $93.00 price objective for the company. Truist Financial began coverage on Lineage in a research report on Monday, August 19th. They issued a “buy” rating and a $94.00 price objective for the company. Finally, Capital One Financial began coverage on Lineage in a research report on Monday, September 16th. They issued an “overweight” rating and a $91.00 price objective for the company. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.75.

Hedge Funds Weigh In On Lineage

Large investors have recently made changes to their positions in the company. US Bancorp DE bought a new position in shares of Lineage during the third quarter worth approximately $25,000. Larson Financial Group LLC bought a new position in Lineage during the 3rd quarter worth $34,000. Spirit of America Management Corp NY bought a new position in Lineage during the 3rd quarter worth $165,000. MetLife Investment Management LLC bought a new position in Lineage during the 3rd quarter worth $226,000. Finally, Amalgamated Bank bought a new position in Lineage during the 3rd quarter worth $255,000.

Lineage Stock Performance

The business has a 50 day simple moving average of $76.25. 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 posted 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 return on equity of 9.89% and a negative net margin of 12.18%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the business earned $0.75 EPS. Lineage’s revenue was up .5% on a year-over-year basis. On average, equities analysts forecast that Lineage, Inc. will post 3 earnings per share for the current year.

Lineage Announces Dividend

The firm also recently declared a — dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, September 30th were paid a $0.38 dividend. The ex-dividend date of this dividend was Monday, September 30th.

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.