Lineage (NASDAQ:LINE) Sets New 1-Year Low - What's Next?

Lineage, Inc. (NASDAQ:LINE - Get Free Report) reached a new 52-week low on Tuesday . The stock traded as low as $56.67 and last traded at $56.69, with a volume of 231715 shares changing hands. The stock had previously closed at $58.88.

Analyst Upgrades and Downgrades

Several research analysts recently commented on LINE shares. Capital One Financial began coverage on Lineage in a research note on Monday, September 16th. They issued an "overweight" rating and a $91.00 price objective for the company. Royal Bank of Canada reduced their target price on shares of Lineage from $94.00 to $81.00 and set an "outperform" rating for the company in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lowered shares of Lineage from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $78.00 to $75.00 in a research report on Friday, December 20th. The Goldman Sachs Group cut their price objective on shares of Lineage from $104.00 to $89.00 and set a "buy" rating for the company in a report on Thursday, November 14th. Finally, Scotiabank lowered their target price on Lineage from $94.00 to $76.00 and set a "sector outperform" rating on the stock in a report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Lineage presently has an average rating of "Moderate Buy" and an average target price of $88.50.

Lineage Price Performance

The company's fifty day moving average price is $63.23. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95.

Lineage (NASDAQ:LINE - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($3.22). Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the company earned $0.75 EPS. The business's revenue was up .5% on a year-over-year basis. As a group, sell-side analysts forecast that Lineage, Inc. will post 3 earnings per share for the current year.

Lineage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 3.70%. The ex-dividend date is Tuesday, December 31st.

Hedge Funds Weigh In On Lineage

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted 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 buying an additional 448 shares during the period. JPMorgan Chase & Co. purchased a new stake in Lineage during the 3rd quarter valued at approximately $12,542,000. Principal Financial Group Inc. acquired a new stake in Lineage during the 3rd quarter worth approximately $173,115,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Lineage in the 3rd quarter valued at approximately $7,804,000. Finally, Geode Capital Management LLC acquired a new position in shares of Lineage in the third quarter valued at approximately $91,161,000.

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.