Lineage, Inc. (NASDAQ:LINE) Given Average Rating of “Hold” by Brokerages

Lineage, Inc. (NASDAQ:LINE) has been assigned an average recommendation of “Hold” from the nineteen research firms that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $44.1176.

A number of research analysts have commented on LINE shares. Piper Sandler reduced their price objective on Lineage from $43.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Zacks Research upgraded Lineage from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Citigroup boosted their price objective on Lineage from $38.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Scotiabank restated a “sector perform” rating and set a $45.00 price objective on shares of Lineage in a research note on Thursday, June 18th. Finally, Royal Bank Of Canada boosted their price objective on Lineage from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Monday, March 2nd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LINE. Norges Bank acquired a new position in shares of Lineage during the fourth quarter worth about $482,255,000. Morgan Stanley lifted its stake in shares of Lineage by 378.6% during the fourth quarter. Morgan Stanley now owns 5,017,332 shares of the company’s stock worth $175,607,000 after purchasing an additional 3,968,958 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Lineage by 712.1% during the first quarter. Bank of America Corp DE now owns 3,610,123 shares of the company’s stock worth $118,268,000 after purchasing an additional 3,165,593 shares in the last quarter. Darlington Partners Capital Management LP increased its position in shares of Lineage by 45.5% during the third quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock worth $198,332,000 after acquiring an additional 1,605,810 shares during the last quarter. Finally, AQR Capital Management LLC increased its position 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 acquiring an additional 1,149,686 shares during the last quarter.

Lineage Price Performance

Shares of Lineage stock opened at $40.95 on Thursday. Lineage has a twelve month low of $31.33 and a twelve month high of $46.49. The stock has a market capitalization of $9.32 billion, a P/E ratio of -66.05 and a beta of 0.88. The company has a current ratio of 0.85, a quick ratio of 0.76 and a debt-to-equity ratio of 0.82. The business’s fifty day moving average price is $40.08 and its 200 day moving average price is $37.62.

Lineage (NASDAQ:LINE) last issued its earnings results on Wednesday, May 6th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $1.01. Lineage had a negative return on equity of 1.56% and a negative net margin of 2.72%.The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the firm earned $0.86 earnings per share. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, research analysts anticipate that Lineage will post 2.45 earnings per share for the current year.

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.5325 per share. This represents a $2.13 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Tuesday, June 30th. Lineage’s payout ratio is currently -343.55%.

About Lineage

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.