Lineage (NASDAQ:LINE) Reaches New 12-Month Low Following Analyst Downgrade

Lineage, Inc. (NASDAQ:LINE) shares hit a new 52-week low during mid-day trading on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $104.00 to $89.00. The Goldman Sachs Group currently has a buy rating on the stock. Lineage traded as low as $65.51 and last traded at $65.51, with a volume of 398 shares changing hands. The stock had previously closed at $65.61.

Several other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. assumed coverage on Lineage in a report on Monday, August 19th. They set an “overweight” rating and a $93.00 price objective on the stock. Royal Bank of Canada dropped their price objective on Lineage from $94.00 to $81.00 and set an “outperform” rating on the stock in a research note on Wednesday. Morgan Stanley assumed coverage on Lineage in a research note on Monday, August 19th. They issued an “overweight” rating and a $100.00 price objective on the stock. Evercore ISI decreased 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. Finally, Scotiabank decreased their target price on Lineage from $95.00 to $94.00 and set a “sector outperform” rating for the company in a research report on Monday, August 26th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $90.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LINE. US Bancorp DE purchased a new position in Lineage in the third quarter valued at approximately $25,000. Larson Financial Group LLC bought a new stake in Lineage during the 3rd quarter valued at $34,000. Spirit of America Management Corp NY bought a new stake in Lineage during the 3rd quarter valued at $165,000. MetLife Investment Management LLC bought a new position in shares of Lineage in the third quarter worth $226,000. Finally, Amalgamated Bank bought a new position in shares of Lineage in the third quarter worth $255,000.

Lineage Price Performance

The company has a fifty day simple moving average of $76.25. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07.

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

Lineage Announces Dividend

The firm also recently declared a — dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, September 30th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Monday, September 30th.

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.