Lineage (NASDAQ:LINE) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Lineage (NASDAQ:LINE) from a hold rating to a sell rating in a report published on Saturday.

LINE has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lineage in a research report on Monday, December 29th. Piper Sandler raised their price target on shares of Lineage from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday. The Goldman Sachs Group cut their price objective on shares of Lineage from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, November 25th. Citigroup reduced their target price on shares of Lineage from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, December 4th. Finally, Robert W. Baird restated a “neutral” rating and set a $39.00 price target (down from $45.00) on shares of Lineage in a research note on Thursday, December 18th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, Lineage presently has an average rating of “Reduce” and a consensus target price of $42.18.

Lineage Price Performance

NASDAQ LINE opened at $40.52 on Friday. The stock has a 50-day simple moving average of $36.68 and a 200 day simple moving average of $37.83. Lineage has a twelve month low of $32.46 and a twelve month high of $62.30. The stock has a market capitalization of $9.25 billion, a PE ratio of -94.23 and a beta of -0.19. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.86 and a current ratio of 0.99.

Lineage (NASDAQ:LINE) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.70). Lineage had a negative return on equity of 1.05% and a negative net margin of 1.87%.The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the firm earned $0.83 earnings per share. The business’s quarterly revenue was down .2% on a year-over-year basis. Research analysts anticipate that Lineage will post 2.34 EPS for the current year.

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Wednesday, December 31st were paid a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Wednesday, December 31st. Lineage’s dividend payout ratio is currently -490.70%.

Hedge Funds Weigh In On Lineage

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in Lineage in the second quarter valued at $606,642,000. Darlington Partners Capital Management LP lifted its holdings in shares of Lineage by 45.5% during the third quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock valued at $198,332,000 after acquiring an additional 1,605,810 shares during the period. Morgan Stanley boosted its stake in shares of Lineage by 378.6% in the 4th quarter. Morgan Stanley now owns 5,017,332 shares of the company’s stock valued at $175,607,000 after purchasing an additional 3,968,958 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Lineage by 4.0% in the 3rd quarter. Capital Research Global Investors now owns 3,152,949 shares of the company’s stock worth $121,830,000 after purchasing an additional 120,616 shares during the last quarter. Finally, State Street Corp increased its position in shares of Lineage by 8.9% during the 2nd quarter. State Street Corp now owns 1,780,270 shares of the company’s stock worth $78,402,000 after purchasing an additional 145,742 shares in the last quarter.

About Lineage

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.