Lineage (NASDAQ:LINE) Reaches New 12-Month Low – Time to Sell?

Lineage, Inc. (NASDAQ:LINE) shares hit a new 52-week low during trading on Monday . The stock traded as low as $54.76 and last traded at $54.76, with a volume of 44965 shares changing hands. The stock had previously closed at $55.47.

Analysts Set New Price Targets

LINE has been the subject of several research analyst reports. Robert W. Baird reduced their target price on Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Royal Bank of Canada dropped their target price on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Scotiabank reduced their price target on shares of Lineage from $94.00 to $76.00 and set a “sector outperform” rating for the company in a research report on Tuesday, December 10th. Mizuho lowered their price objective on Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lowered Lineage from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $78.00 to $75.00 in a research note on Friday, December 20th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.31.

Lineage Stock Down 0.5 %

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 firm’s 50 day simple moving average is $62.16.

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 firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. Sell-side analysts predict that Lineage, Inc. will post 3 EPS for the current fiscal year.

Lineage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders 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 3.82%.

Institutional Trading of Lineage

A number of large investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Lineage in the third quarter valued at $658,000. Perpetual Ltd purchased a new position in shares of Lineage in the 3rd quarter valued at about $324,000. Renaissance Capital LLC acquired a new position in shares of Lineage during the third quarter worth about $5,209,000. Vontobel Holding Ltd. purchased a new stake in shares of Lineage during the third quarter worth approximately $1,026,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Lineage in the third quarter valued at approximately $3,582,000.

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.