Lineage (NASDAQ:LINE) Hits New 1-Year Low – Here’s Why

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LINE shares. Morgan Stanley initiated coverage on shares of Lineage in a report on Monday, August 19th. They set an “overweight” rating and a $100.00 target price on the stock. JPMorgan Chase & Co. began coverage on Lineage in a research report on Monday, August 19th. They issued an “overweight” rating and a $93.00 target price for the company. Evercore ISI lowered 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. Wells Fargo & Company increased their price objective on shares of Lineage from $86.00 to $89.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Finally, Piper Sandler started coverage on shares of Lineage in a research note on Monday, August 19th. They set an “overweight” rating and a $102.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.75.

Lineage Price Performance

The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average of $74.79.

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). Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the firm earned $0.75 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. Research analysts expect that Lineage, Inc. will post 3 earnings per share for the current year.

Lineage Announces Dividend

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

Hedge Funds Weigh In On Lineage

Several institutional investors have recently made changes to their positions in LINE. Wellington Management Group LLP bought a new stake in shares of Lineage in the 3rd quarter worth approximately $265,895,000. Victory Capital Management Inc. acquired a new position in shares of Lineage during the third quarter valued at $176,790,000. Principal Financial Group Inc. bought a new position in shares of Lineage during the third quarter worth about $173,115,000. Baillie Gifford & Co. bought a new position in shares of Lineage during the third quarter worth about $134,351,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Lineage in the 3rd quarter worth about $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.