Lineage (NASDAQ:LINE) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen cut shares of Lineage (NASDAQ:LINE) from a sell rating to a strong sell rating in a research note published on Monday morning.

Other analysts also recently issued reports about the company. Wells Fargo & Company raised their price objective on Lineage from $32.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of Lineage in a research report on Friday, March 27th. Scotiabank raised their price objective on Lineage from $39.00 to $42.00 and gave the stock a “hold” rating in a research report on Wednesday, March 11th. The Goldman Sachs Group raised their target price on Lineage from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, March 20th. Finally, Royal Bank Of Canada raised their target price on Lineage from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $43.22.

Lineage Stock Down 1.6%

Shares of NASDAQ:LINE opened at $39.32 on Monday. The business has a 50-day moving average price of $36.48 and a 200 day moving average price of $36.41. The company has a current ratio of 0.85, a quick ratio of 0.76 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of -63.42 and a beta of 0.61. Lineage has a 12-month low of $31.33 and a 12-month high of $48.72.

Lineage (NASDAQ:LINE) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $1.01. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. Lineage had a negative return on equity of 1.56% and a negative net margin of 2.72%.The company’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the company earned $0.86 EPS. Sell-side analysts expect that Lineage will post 2.39 EPS for the current year.

Lineage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 21st. Stockholders of record on Tuesday, March 31st were paid a $0.5325 dividend. This represents a $2.13 annualized dividend and a dividend yield of 5.4%. The ex-dividend date was Tuesday, March 31st. This is a boost from Lineage’s previous quarterly dividend of $0.53. Lineage’s dividend payout ratio (DPR) is -343.55%.

Insider Activity

In related news, Chairman Kevin Patrick Marchetti acquired 13,300 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was acquired at an average price of $37.50 per share, for a total transaction of $498,750.00. Following the purchase, the chairman owned 113,690 shares of the company’s stock, valued at $4,263,375. This represents a 13.25% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 71.90% of the company’s stock.

Hedge Funds Weigh In On Lineage

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of Lineage by 134.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 876,901 shares of the company’s stock valued at $28,721,000 after buying an additional 503,021 shares during the period. Parallel Advisors LLC lifted its stake in Lineage by 172.7% during the first quarter. Parallel Advisors LLC now owns 1,650 shares of the company’s stock worth $54,000 after purchasing an additional 1,045 shares during the last quarter. Bessemer Group Inc. lifted its stake in Lineage by 997,150.0% during the first quarter. Bessemer Group Inc. now owns 19,945 shares of the company’s stock worth $653,000 after purchasing an additional 19,943 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Lineage by 139.0% during the first quarter. Bank of New York Mellon Corp now owns 934,333 shares of the company’s stock worth $30,609,000 after purchasing an additional 543,439 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Lineage by 16.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 64,454 shares of the company’s stock worth $2,112,000 after purchasing an additional 8,944 shares during the last quarter.

Lineage Company Profile

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.