Lineage, Inc. (NASDAQ:LINE) Receives $85.76 Average Target Price from Brokerages

Lineage, Inc. (NASDAQ:LINE) has earned a consensus rating of “Moderate Buy” from the eighteen research firms that are currently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $85.06.

LINE has been the subject of a number of research analyst reports. BNP Paribas assumed coverage on Lineage in a report on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 target price for the company. The Goldman Sachs Group reduced their price objective on Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a report on Friday. Evercore ISI lowered their target price on shares of Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Robert W. Baird decreased their price objective on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Finally, Mizuho dropped their target price on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th.

Lineage Stock Up 1.3 %

LINE opened at $58.18 on Thursday. The stock has a 50-day moving average of $60.63. Lineage has a 1 year low of $52.75 and a 1 year high of $89.85. 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 (NASDAQ:LINE) last issued its earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 9.89% and a negative net margin of 12.18%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 EPS. As a group, equities research analysts expect that Lineage will post 2.33 EPS for the current fiscal year.

Lineage Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Tuesday, December 31st. This represents a $2.11 annualized dividend and a dividend yield of 3.63%.

Hedge Funds Weigh In On Lineage

A number of hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp purchased a new position in Lineage in the 3rd quarter worth approximately $833,000. TOMS Capital Investment Management LP purchased a new position in shares of Lineage in the third quarter worth $15,676,000. Sequoia Financial Advisors LLC purchased a new position in shares of Lineage in the third quarter worth $23,893,000. Nicola Wealth Management LTD. purchased a new position in shares of Lineage in the third quarter worth $658,000. Finally, JPMorgan Chase & Co. purchased a new position in Lineage during the third quarter valued at $12,542,000.

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.