Lineage (NASDAQ:LINE) Price Target Lowered to $50.00 at The Goldman Sachs Group

Lineage (NASDAQ:LINE) had its price target trimmed by The Goldman Sachs Group from $57.00 to $50.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts also recently commented on the stock. BNP Paribas Exane downgraded shares of Lineage from a “neutral” rating to an “underperform” rating and set a $42.00 price objective for the company. in a research note on Thursday, June 12th. Scotiabank dropped their target price on shares of Lineage from $56.00 to $50.00 and set a “sector perform” rating for the company in a research report on Thursday, May 15th. Barclays dropped their target price on shares of Lineage from $59.00 to $52.00 and set an “overweight” rating for the company in a research report on Monday, July 21st. JPMorgan Chase & Co. downgraded shares of Lineage from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $55.00 to $50.00 in a research report on Monday, June 23rd. Finally, Citigroup dropped their target price on shares of Lineage from $64.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, June 12th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $59.20.

Lineage Trading Up 1.2%

NASDAQ LINE opened at $40.59 on Tuesday. Lineage has a 12 month low of $40.06 and a 12 month high of $88.00. The company has a 50-day moving average of $43.49 and a 200-day moving average of $50.40. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.96 and a quick ratio of 0.83. The company has a market cap of $9.28 billion and a P/E ratio of -14.55.

Lineage (NASDAQ:LINE) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. Lineage had a negative net margin of 10.57% and a negative return on equity of 5.76%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. The business’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities analysts predict that Lineage will post 2.34 earnings per share for the current year.

Lineage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, June 30th were paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Monday, June 30th. Lineage’s dividend payout ratio is -75.63%.

Insider Activity at Lineage

In other Lineage news, Chairman Kevin Patrick Marchetti bought 23,540 shares of Lineage stock in a transaction dated Friday, August 8th. The stock was bought at an average cost of $42.28 per share, for a total transaction of $995,271.20. Following the purchase, the chairman owned 62,323 shares in the company, valued at $2,635,016.44. This represents a 60.70% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Sudarsan V. Thattai bought 3,563 shares of Lineage stock in a transaction dated Friday, August 8th. The shares were acquired at an average price of $42.45 per share, with a total value of $151,249.35. Following the completion of the purchase, the insider owned 7,983 shares in the company, valued at approximately $338,878.35. The trade was a 80.61% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 71.90% of the company’s stock.

Hedge Funds Weigh In On Lineage

Institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd boosted its stake in shares of Lineage by 419.2% during the 1st quarter. XTX Topco Ltd now owns 30,733 shares of the company’s stock valued at $1,802,000 after buying an additional 24,814 shares during the last quarter. Lunate Capital Ltd bought a new position in Lineage during the first quarter worth $35,178,000. GAMMA Investing LLC lifted its stake in Lineage by 3,141.4% during the first quarter. GAMMA Investing LLC now owns 14,716 shares of the company’s stock worth $863,000 after purchasing an additional 14,262 shares during the last quarter. M&T Bank Corp lifted its stake in Lineage by 174.5% during the first quarter. M&T Bank Corp now owns 13,690 shares of the company’s stock worth $803,000 after purchasing an additional 8,703 shares during the last quarter. Finally, Galvin Gaustad & Stein LLC lifted its stake in Lineage by 20.9% during the first quarter. Galvin Gaustad & Stein LLC now owns 192,786 shares of the company’s stock worth $11,303,000 after purchasing an additional 33,360 shares during the last quarter.

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.