Lineage (NASDAQ:LINE) Sets New 52-Week Low – Here’s What Happened

Lineage, Inc. (NASDAQ:LINE)’s stock price reached a new 52-week low on Monday . The company traded as low as $60.84 and last traded at $61.15, with a volume of 1015595 shares. The stock had previously closed at $62.02.

Analyst Ratings Changes

LINE has been the subject of a number of research reports. Robert W. Baird decreased their target price on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Morgan Stanley initiated coverage on Lineage in a research note on Monday, August 19th. They issued an “overweight” rating and a $100.00 target price on the stock. KeyCorp started coverage on Lineage in a report on Monday, August 19th. They set an “overweight” rating and a $92.00 target price on the stock. Wells Fargo & Company boosted their price target on Lineage from $86.00 to $89.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Finally, Evercore ISI dropped their price objective 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. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.63.

Lineage Price Performance

The firm has a 50 day moving average price of $69.19. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.

Lineage (NASDAQ:LINE) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). The business had revenue of $1.34 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 EPS. As a group, research analysts anticipate that Lineage, Inc. will post 3 EPS for the current year.

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Tuesday, December 31st.

Institutional Trading of Lineage

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP acquired 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 Lineage during the third quarter worth about $176,790,000. Principal Financial Group Inc. acquired a new position in Lineage in the 3rd quarter valued at about $173,115,000. Baillie Gifford & Co. purchased a new stake in shares of Lineage in the 3rd quarter valued at approximately $134,351,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Lineage during the 3rd quarter worth approximately $131,875,000.

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.