Lineage (NASDAQ:LINE) Stock Gets Price Target Trim from JPMorgan Chase & Co.

Lineage (NASDAQ:LINE) had its price target trimmed by JPMorgan Chase & Co. from $40.00 to $37.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has an underweight rating on the stock.

Other research analysts have also issued reports about the company. Scotiabank cut their price target on Lineage from $44.00 to $39.00 and set a “hold” rating for the company in a report on Friday, October 2nd. The Goldman Sachs Group set a $53.00 price objective on Lineage in a research report on Wednesday, August 12th. Weiss Ratings upgraded shares of Lineage from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 6th. Wells Fargo & Company boosted their target price on shares of Lineage from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 1st. Finally, Citigroup boosted their target price on shares of Lineage from $42.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $43.13.

Lineage Trading Down 2.4%

Lineage stock opened at $33.28 on Thursday. Lineage has a 52 week low of $31.33 and a 52 week high of $45.75. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.78. The firm has a market capitalization of $7.58 billion, a PE ratio of -46.22 and a beta of 0.86. The business’s 50-day simple moving average is $37.78 and its 200-day simple moving average is $39.44.

Lineage (NASDAQ:LINE) last announced its earnings results on Wednesday, August 5th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.98. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.81 EPS. Equities research analysts forecast that Lineage will post 2.48 earnings per share for the current year.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Wednesday, September 30th will be paid a $0.5325 dividend. This represents a $2.13 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date is Wednesday, September 30th. Lineage’s dividend payout ratio is presently -295.83%.

Insider Buying and Selling at Lineage

In other Lineage news, CFO Robb A. Lemasters acquired 20,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was bought at an average price of $41.33 per share, for a total transaction of $826,600.00. Following the purchase, the chief financial officer owned 49,500 shares in the company, valued at $2,045,835. This represents a 67.80% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Kevin Marchetti acquired 25,000 shares of Lineage stock in a transaction dated Friday, August 28th. The shares were acquired at an average cost of $39.50 per share, with a total value of $987,500.00. Following the completion of the acquisition, the chairman directly owned 138,690 shares in the company, valued at $5,478,255. This trade represents a 21.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 71.60% of the stock is owned by company insiders.

Institutional Trading of Lineage

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Lineage in the second quarter worth about $227,511,000. Bank of America Corp DE acquired a new stake in Lineage during the second quarter valued at approximately $156,045,000. HighTower Advisors LLC boosted its holdings in Lineage by 6.1% during the second quarter. HighTower Advisors LLC now owns 2,286,166 shares of the company’s stock valued at $98,877,000 after purchasing an additional 130,895 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Lineage during the second quarter valued at approximately $44,638,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Lineage during the second quarter valued at approximately $41,271,000.

About Lineage

Lineage, Inc is a global temperature-controlled industrial real estate and logistics company. It owns, operates and develops cold-storage facilities that help preserve and move perishable food products, including meat, seafood, dairy, fruits, vegetables and prepared foods.

The company provides a range of supply-chain services in addition to refrigerated and frozen warehousing. These services include transportation, distribution, port and rail logistics, food processing support, inventory management and other technology-enabled solutions designed to improve the efficiency and reliability of the food supply chain.

Lineage serves customers across North America, Europe and the Asia-Pacific region, with facilities located near major transportation hubs, ports and population centers.