Lineage (NASDAQ:LINE) Sets New 1-Year Low – What’s Next?

Lineage, Inc. (NASDAQ:LINE) reached a new 52-week low on Tuesday . The company traded as low as $56.67 and last traded at $56.69, with a volume of 231715 shares changing hands. The stock had previously closed at $58.88.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LINE. Royal Bank of Canada dropped their target price on Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Scotiabank cut their target price on shares of Lineage from $94.00 to $76.00 and set a “sector outperform” rating on the stock in a report on Tuesday, December 10th. Evercore ISI decreased their target price on shares of Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. The Goldman Sachs Group dropped their price target 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. Finally, Robert W. Baird lowered their price objective on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Lineage has an average rating of “Moderate Buy” and a consensus price target of $88.50.

Lineage Stock Performance

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 stock’s 50-day moving average price is $63.61.

Lineage (NASDAQ:LINE) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($2.44) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 earnings per share. As a group, equities analysts anticipate that Lineage, Inc. will post 3 earnings per share for the current year.

Lineage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 3.70%. The ex-dividend date is Tuesday, December 31st.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. US Bancorp DE bought a new stake in shares of Lineage during the 3rd quarter valued at about $25,000. Larson Financial Group LLC bought a new position in Lineage in the third quarter worth approximately $34,000. GAMMA Investing LLC boosted its stake in shares of Lineage by 7,466.7% during the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $27,000 after acquiring an additional 448 shares during the last quarter. Spirit of America Management Corp NY purchased a new stake in shares of Lineage in the 3rd quarter worth $165,000. Finally, Stifel Financial Corp bought a new position in Lineage in the 3rd quarter worth $211,000.

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.