Lineage (NASDAQ:LINE) Price Target Raised to $43.00

Lineage (NASDAQ:LINE) had its target price upped by Piper Sandler from $41.00 to $43.00 in a research report report published on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms also recently weighed in on LINE. Evercore cut their price target on Lineage from $44.00 to $38.00 and set an “in-line” rating for the company in a research note on Monday, November 10th. JPMorgan Chase & Co. cut their target price on shares of Lineage from $43.00 to $38.00 and set an “underweight” rating for the company in a research report on Friday, November 14th. Barclays reissued a “positive” rating on shares of Lineage in a research report on Wednesday, February 4th. Truist Financial set a $40.00 price target on shares of Lineage in a research note on Monday, December 22nd. Finally, Morgan Stanley reduced their price objective on shares of Lineage from $46.00 to $39.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 16th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, Lineage presently has an average rating of “Reduce” and a consensus target price of $42.18.

Lineage Trading Down 1.1%

Shares of LINE stock opened at $40.52 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of 0.79. The firm has a market cap of $9.25 billion, a P/E ratio of -94.23 and a beta of -0.43. The company has a 50 day moving average of $36.68 and a 200-day moving average of $37.81. Lineage has a 12-month low of $32.46 and a 12-month high of $62.30.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.70). Lineage had a negative net margin of 1.87% and a negative return on equity of 1.06%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the company posted $0.83 earnings per share. Lineage’s revenue for the quarter was down .2% on a year-over-year basis. Sell-side analysts anticipate that Lineage will post 2.34 earnings per share for the current year.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Wednesday, December 31st were issued a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Wednesday, December 31st. Lineage’s dividend payout ratio is -490.70%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Lineage in the second quarter worth $606,642,000. Morgan Stanley raised its holdings in shares of Lineage by 378.6% in the 4th quarter. Morgan Stanley now owns 5,017,332 shares of the company’s stock valued at $175,607,000 after acquiring an additional 3,968,958 shares in the last quarter. Darlington Partners Capital Management LP boosted its position in shares of Lineage by 45.5% during the 3rd quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock valued at $198,332,000 after acquiring an additional 1,605,810 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Lineage by 636.1% during the fourth quarter. AQR Capital Management LLC now owns 1,330,439 shares of the company’s stock worth $46,273,000 after purchasing an additional 1,149,686 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new position in shares of Lineage during the third quarter worth about $43,804,000.

Lineage Company Profile

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.