Lineage (NASDAQ:LINE) Cut to “Strong Sell” at Zacks Research

Lineage (NASDAQ:LINE) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts have also recently issued reports on LINE. Royal Bank Of Canada cut their target price on shares of Lineage from $51.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, November 12th. Mizuho cut their price target on shares of Lineage from $44.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Citigroup lowered their price objective 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. JPMorgan Chase & Co. cut their target price on Lineage from $43.00 to $38.00 and set an “underweight” rating on the stock in a research note on Friday, November 14th. Finally, The Goldman Sachs Group reduced their price target on Lineage from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, November 25th. Three research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $42.06.

Lineage Price Performance

Shares of Lineage stock opened at $36.93 on Tuesday. 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 has a 52-week low of $32.46 and a 52-week high of $62.30. The company has a fifty day moving average of $35.14 and a 200-day moving average of $39.06. The stock has a market capitalization of $8.43 billion, a price-to-earnings ratio of -46.75 and a beta of -0.19.

Lineage (NASDAQ:LINE) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.07. Lineage had a negative net margin of 3.30% and a negative return on equity of 1.85%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the business posted $0.90 earnings per share. The company’s revenue was up 3.1% on a year-over-year basis. Equities research analysts expect that Lineage will post 2.34 EPS for the current year.

Insider Transactions at Lineage

In other news, Chairman Kevin Patrick Marchetti purchased 14,500 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average cost of $33.72 per share, for a total transaction of $488,940.00. Following the completion of the transaction, the chairman directly owned 89,168 shares of the company’s stock, valued at $3,006,744.96. This trade represents a 19.42% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Adam Matthew Schwartz Forste purchased 74,000 shares of Lineage stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average cost of $33.83 per share, for a total transaction of $2,503,420.00. Following the completion of the purchase, the chairman owned 109,266 shares of the company’s stock, valued at $3,696,468.78. This trade represents a 209.83% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 129,000 shares of company stock worth $4,366,940 over the last quarter. Insiders own 71.90% of the company’s stock.

Institutional Trading of Lineage

A number of hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp grew its position in shares of Lineage by 82.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock worth $25,000 after buying an additional 300 shares during the period. EverSource Wealth Advisors LLC lifted its position in Lineage by 172.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after acquiring an additional 362 shares during the period. Signaturefd LLC boosted its stake in Lineage by 132.3% during the second quarter. Signaturefd LLC now owns 648 shares of the company’s stock worth $28,000 after acquiring an additional 369 shares in the last quarter. Caitlin John LLC purchased a new stake in Lineage in the third quarter worth about $31,000. Finally, Allworth Financial LP grew its holdings in Lineage by 426.4% in the second quarter. Allworth Financial LP now owns 758 shares of the company’s stock worth $33,000 after purchasing an additional 614 shares during the period.

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.