Scotiabank Has Lowered Expectations for Lineage (NASDAQ:LINE) Stock Price

Lineage (NASDAQ:LINE) had its price target decreased by Scotiabank from $76.00 to $73.00 in a research report released on Monday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

LINE has been the subject of several other research reports. Mizuho cut their target price on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Evercore ISI lowered their target price on Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. The Goldman Sachs Group lowered their target price on Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Robert W. Baird lowered their target price on Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Finally, BNP Paribas initiated coverage on Lineage in a research note on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 target price for the company. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.88.

Lineage Trading Up 0.1 %

Shares of LINE stock opened at $58.69 on Monday. The stock has a 50 day moving average price of $59.54. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Lineage has a 12 month low of $52.75 and a 12 month high of $89.85.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, November 6th. The company reported ($2.44) EPS for the quarter, missing the consensus estimate of $0.78 by ($3.22). The company had revenue of $1.34 billion for 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%. Lineage’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.75 EPS. On average, equities analysts anticipate that Lineage will post 2.33 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st were paid a $0.5275 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.11 dividend on an annualized basis and a yield of 3.60%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC lifted its holdings in shares of Lineage by 1.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 10,154 shares of the company’s stock valued at $595,000 after purchasing an additional 185 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Lineage by 1.0% in the fourth quarter. State of Alaska Department of Revenue now owns 29,724 shares of the company’s stock valued at $1,740,000 after purchasing an additional 291 shares in the last quarter. US Bancorp DE bought a new stake in shares of Lineage in the third quarter valued at about $25,000. Larson Financial Group LLC bought a new stake in shares of Lineage in the third quarter valued at about $34,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Lineage by 7,466.7% in the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after purchasing an additional 448 shares in the last quarter.

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.