Lineage (NASDAQ:LINE) Reaches New 12-Month Low – Here’s Why

Lineage, Inc. (NASDAQ:LINE)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $62.51 and last traded at $62.52, with a volume of 44550 shares changing hands. The stock had previously closed at $63.61.

Analyst Ratings Changes

LINE has been the subject of several research reports. Mizuho initiated coverage on shares of Lineage in a report on Monday, August 19th. They set a “neutral” rating and a $86.00 price objective for the company. Truist Financial assumed coverage on Lineage in a report on Monday, August 19th. They issued a “buy” rating and a $94.00 price objective for the company. Deutsche Bank Aktiengesellschaft began coverage on Lineage in a report on Monday, August 19th. They issued a “hold” rating and a $90.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on shares of Lineage in a report on Monday, August 19th. They issued an “overweight” rating and a $93.00 target price for the company. Finally, Morgan Stanley initiated coverage on Lineage in a research note on Monday, August 19th. They issued an “overweight” rating and a $100.00 price objective for the company. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Lineage currently has an average rating of “Moderate Buy” and an average price target of $90.75.

Lineage Stock Down 1.4 %

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. The firm has a fifty day moving average of $75.52.

Lineage (NASDAQ:LINE) last released its earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($3.22). The business 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%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 earnings per share. As a group, research analysts anticipate that Lineage, Inc. will post 3 EPS for the current year.

Lineage Dividend Announcement

The business also recently announced a — dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, September 30th were paid a $0.38 dividend. The ex-dividend date was Monday, September 30th.

Institutional Trading of Lineage

Several institutional investors and hedge funds have recently modified their holdings of LINE. US Bancorp DE purchased a new position in Lineage during the 3rd quarter worth $25,000. Larson Financial Group LLC bought a new position in shares of Lineage during the 3rd quarter worth $34,000. Spirit of America Management Corp NY purchased a new position in shares of Lineage during the third quarter valued at $165,000. Stifel Financial Corp bought a new stake in shares of Lineage in the third quarter valued at about $211,000. Finally, MetLife Investment Management LLC bought a new position in Lineage during the 3rd quarter worth about $226,000.

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.