Lineage (NASDAQ:LINE) Hits New 1-Year Low – Here’s What Happened

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

Wall Street Analyst Weigh In

LINE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. downgraded shares of Lineage from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $78.00 to $75.00 in a research note on Friday, December 20th. Scotiabank decreased their target price on shares of Lineage from $94.00 to $76.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, December 10th. Royal Bank of Canada dropped their price target on Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. The Goldman Sachs Group reduced their price objective on Lineage from $104.00 to $89.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Finally, Evercore ISI dropped their target price on Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lineage currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.50.

Lineage Stock Performance

The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $63.61.

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

Lineage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders 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 dividend yield of 3.70%. The ex-dividend date is Tuesday, December 31st.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LINE. Wellington Management Group LLP purchased a new position in shares of Lineage during the 3rd quarter valued at about $265,895,000. Victory Capital Management Inc. purchased a new position in shares of Lineage during the third quarter worth approximately $176,790,000. Principal Financial Group Inc. bought a new stake in shares of Lineage in the 3rd quarter worth approximately $173,115,000. Baillie Gifford & Co. purchased a new stake in shares of Lineage in the 3rd quarter valued at $134,351,000. Finally, Janus Henderson Group PLC bought a new position in shares of Lineage during the 3rd quarter valued at $131,875,000.

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.