Lineage (NASDAQ:LINE) Earns Neutral Rating from Analysts at BNP Paribas

BNP Paribas began coverage on shares of Lineage (NASDAQ:LINE) in a research note issued to investors on Tuesday morning, MarketBeat reports. The brokerage issued a neutral rating and a $61.00 price objective on the stock.

A number of other research analysts have also weighed in on LINE. Royal Bank of Canada reduced their price objective on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. The Goldman Sachs Group reduced their price target on Lineage from $104.00 to $89.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Mizuho decreased their price objective on Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Evercore ISI cut their target price on Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. cut Lineage from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $78.00 to $75.00 in a research report on Friday, December 20th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $85.76.

Lineage Trading Down 0.4 %

LINE stock opened at $55.40 on Tuesday. The business’s fifty day moving average price is $61.82. Lineage has a fifty-two week low of $54.67 and a fifty-two week 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 released its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) EPS 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 analysts’ expectations of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. Lineage’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the company earned $0.75 earnings per share. Analysts anticipate that Lineage will post 3 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be given a $0.5275 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.11 annualized dividend and a yield of 3.81%.

Institutional Investors Weigh In On Lineage

A number of large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new position in shares of Lineage in the 3rd quarter worth about $265,895,000. Victory Capital Management Inc. bought a new stake in Lineage in the 3rd quarter worth approximately $176,790,000. Principal Financial Group Inc. purchased a new stake in Lineage in the third quarter worth approximately $173,115,000. Baillie Gifford & Co. bought a new position in Lineage during the third quarter valued at approximately $134,351,000. Finally, Janus Henderson Group PLC purchased a new position in shares of Lineage during the third quarter worth approximately $131,875,000.

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.