Citigroup Cuts Lineage (NASDAQ:LINE) Price Target to $38.00

Lineage (NASDAQ:LINE) had its price target trimmed by Citigroup from $39.00 to $38.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts also recently issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Lineage in a research note on Tuesday. Royal Bank Of Canada cut their target price on Lineage from $51.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 12th. Piper Sandler reissued a “neutral” rating and issued a $41.00 price target (down from $55.00) on shares of Lineage in a research report on Thursday, November 6th. Robert W. Baird dropped their price objective on Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 13th. Finally, Barclays reduced their target price on shares of Lineage from $51.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, October 22nd. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Lineage currently has an average rating of “Hold” and a consensus target price of $44.56.

Lineage Stock Performance

NASDAQ LINE opened at $35.33 on Thursday. The company has a market cap of $8.07 billion, a P/E ratio of -44.72 and a beta of -0.16. The company has a fifty day simple moving average of $37.63 and a 200 day simple moving average of $40.84. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.76. Lineage has a 12-month low of $32.46 and a 12-month high of $63.88.

Lineage (NASDAQ:LINE) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. Lineage had a negative net margin of 3.30% and a negative return on equity of 1.85%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the firm earned $0.90 earnings per share. Sell-side analysts predict that Lineage will post 2.34 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Tuesday, September 30th were issued a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend was Tuesday, September 30th. Lineage’s payout ratio is -267.09%.

Insider Transactions at Lineage

In other news, Chairman Kevin Patrick Marchetti bought 14,500 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was acquired at an average cost of $33.72 per share, with a total value of $488,940.00. Following the completion of the transaction, the chairman directly owned 89,168 shares of the company’s stock, valued at $3,006,744.96. This represents a 19.42% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert Crisci purchased 10,000 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were purchased at an average cost of $34.56 per share, for a total transaction of $345,600.00. Following the transaction, the chief financial officer directly owned 107,859 shares in the company, valued at approximately $3,727,607.04. The trade was a 10.22% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 129,000 shares of company stock valued at $4,366,940 in the last three months. 71.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lineage

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp increased its stake in shares of Lineage by 82.2% in the third quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock worth $25,000 after purchasing an additional 300 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Lineage by 172.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after buying an additional 362 shares during the period. Signaturefd LLC grew its stake in Lineage by 132.3% in the 2nd quarter. Signaturefd LLC now owns 648 shares of the company’s stock valued at $28,000 after buying an additional 369 shares in the last quarter. Costello Asset Management INC bought a new stake in Lineage during the 1st quarter valued at $29,000. Finally, Caitlin John LLC purchased a new stake in shares of Lineage during the third quarter worth $31,000.

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.