Lineage (NASDAQ:LINE) Sets New 52-Week Low – Here’s Why

Lineage, Inc. (NASDAQ:LINE)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $56.67 and last traded at $56.69, with a volume of 231715 shares trading hands. The stock had previously closed at $58.88.

Wall Street Analyst Weigh In

LINE has been the topic of several research analyst reports. Scotiabank reduced their price target on shares of Lineage from $94.00 to $76.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, December 10th. Royal Bank of Canada reduced their price objective on Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Capital One Financial initiated coverage on shares of Lineage in a report on Monday, September 16th. They set an “overweight” rating and a $91.00 target price for the company. JPMorgan Chase & Co. lowered Lineage from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $78.00 to $75.00 in a research note on Friday, December 20th. Finally, Robert W. Baird cut their price target on Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Lineage presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.31.

Lineage Stock 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 business’s 50-day moving average is $62.85.

Lineage (NASDAQ:LINE) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The company’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 EPS. As a group, equities research analysts predict that Lineage, Inc. will post 3 EPS for the current year.

Lineage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.5275 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.74%.

Hedge Funds Weigh In On Lineage

Hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp bought a new position in Lineage in the third quarter worth about $833,000. TOMS Capital Investment Management LP acquired a new stake in Lineage in the third quarter valued at approximately $15,676,000. Sequoia Financial Advisors LLC purchased a new position in Lineage in the third quarter worth $23,893,000. Nicola Wealth Management LTD. acquired a new position in shares of Lineage during the third quarter worth $658,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Lineage during the 3rd quarter valued at $173,115,000.

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.