Lineage (NASDAQ:LINE) Reaches New 12-Month Low – Here’s What Happened

Lineage, Inc. (NASDAQ:LINE)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $62.43 and last traded at $62.57, with a volume of 933755 shares trading hands. The stock had previously closed at $63.31.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LINE. Robert W. Baird dropped their price objective on Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Evercore ISI dropped their price objective on Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. UBS Group began coverage on Lineage in a research report on Monday, August 19th. They set a “neutral” rating and a $88.00 price objective on the stock. Wells Fargo & Company raised their price objective on Lineage from $86.00 to $89.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Finally, Truist Financial initiated coverage on Lineage in a report on Monday, August 19th. They issued a “buy” rating and a $94.00 price target for the company. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Lineage has an average rating of “Moderate Buy” and a consensus price target of $90.75.

Lineage Price Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. The company’s fifty day moving average price is $71.91.

Lineage (NASDAQ:LINE) last announced its earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The firm’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. As a group, sell-side analysts forecast that Lineage, Inc. will post 3 earnings per share for the current year.

Lineage Announces Dividend

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

Institutional Trading of Lineage

Hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE acquired a new stake in Lineage during the 3rd quarter worth approximately $25,000. Larson Financial Group LLC acquired a new stake in Lineage during the 3rd quarter worth approximately $34,000. Spirit of America Management Corp NY acquired a new stake in Lineage during the 3rd quarter worth approximately $165,000. Stifel Financial Corp acquired a new stake in shares of Lineage in the 3rd quarter valued at approximately $211,000. Finally, MetLife Investment Management LLC acquired a new stake in shares of Lineage in the 3rd quarter valued at approximately $226,000.

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.