Lineage (NASDAQ:LINE) Given New $73.00 Price Target at Scotiabank

Lineage (NASDAQ:LINE - Free Report) had its price target reduced by Scotiabank from $76.00 to $73.00 in a report released on Monday,Benzinga reports. They currently have a sector outperform rating on the stock.

Other research analysts also recently issued research reports about the company. Mizuho decreased their price objective on Lineage from $86.00 to $67.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada decreased their target price on shares of Lineage from $94.00 to $81.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 13th. The Goldman Sachs Group dropped their price target on shares of Lineage from $89.00 to $77.00 and set a "buy" rating for the company in a research report on Friday, January 17th. JPMorgan Chase & Co. downgraded shares of Lineage from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $78.00 to $75.00 in a research report on Friday, December 20th. Finally, Robert W. Baird dropped their target price on shares of Lineage from $91.00 to $85.00 and set an "outperform" rating for the company in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.88.

Lineage Trading Down 0.8 %

Shares of Lineage stock traded down $0.46 during trading hours on Monday, reaching $58.23. 578,556 shares of the stock traded hands, compared to its average volume of 718,661. The business's 50 day moving average is $59.41. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Lineage has a one year low of $52.75 and a one year high of $89.85.

Lineage (NASDAQ:LINE - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($3.22). Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The business had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.34 billion. During the same quarter in the prior year, the business earned $0.75 EPS. The company's revenue was up .5% compared to the same quarter last year. Analysts predict that Lineage will post 2.33 EPS for the current year.

Lineage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st were issued a $0.5275 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.11 annualized dividend and a dividend yield of 3.62%.

Hedge Funds Weigh In On Lineage

Several institutional investors and hedge funds have recently bought and sold shares of LINE. US Bancorp DE purchased a new position in Lineage during the 3rd quarter worth $25,000. GAMMA Investing LLC grew its stake in shares of Lineage by 7,466.7% during the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company's stock worth $27,000 after acquiring an additional 448 shares during the last quarter. Larson Financial Group LLC acquired a new position in shares of Lineage during the third quarter valued at about $34,000. Spirit of America Management Corp NY purchased a new position in shares of Lineage in the 3rd quarter valued at approximately $165,000. Finally, Stifel Financial Corp purchased a new position in shares of Lineage in the 3rd quarter valued at approximately $211,000.

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.