Lineage (NASDAQ:LINE) Sets New 52-Week Low Following Analyst Downgrade

Lineage, Inc. (NASDAQ:LINE - Get Free Report) shares hit a new 52-week low on Wednesday after Royal Bank of Canada lowered their price target on the stock from $94.00 to $81.00. Royal Bank of Canada currently has an outperform rating on the stock. Lineage traded as low as $65.51 and last traded at $65.51, with a volume of 398 shares traded. The stock had previously closed at $65.61.

A number of other analysts have also issued reports on LINE. Scotiabank lowered their target price on shares of Lineage from $95.00 to $94.00 and set a "sector outperform" rating for the company in a research note on Monday, August 26th. Truist Financial began coverage on shares of Lineage in a research note on Monday, August 19th. They set a "buy" rating and a $94.00 target price for the company. Baird R W raised shares of Lineage to a "strong-buy" rating in a research note on Monday, August 19th. Mizuho began coverage on shares of Lineage in a research note on Monday, August 19th. They set a "neutral" rating and a $86.00 target price for the company. Finally, Piper Sandler began coverage on shares of Lineage in a research note on Monday, August 19th. They set an "overweight" rating and a $102.00 target price for the company. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $91.69.

Hedge Funds Weigh In On Lineage

Hedge funds have recently modified their holdings of the stock. US Bancorp DE acquired a new position in shares of Lineage during the third quarter valued at about $25,000. Larson Financial Group LLC acquired a new position in Lineage in the 3rd quarter worth approximately $34,000. Spirit of America Management Corp NY acquired a new position in Lineage in the 3rd quarter worth approximately $165,000. Amalgamated Bank acquired a new position in Lineage in the 3rd quarter worth approximately $255,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Lineage in the 3rd quarter worth approximately $312,000.

Lineage Price Performance

The stock has a fifty day moving average of $77.02. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.

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 during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the company posted $0.75 EPS. Lineage's quarterly revenue was up .5% compared to the same quarter last year. Analysts expect that Lineage, Inc. will post 3 earnings per share for the current year.

Lineage Announces Dividend

The company also recently disclosed a -- dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, September 30th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Monday, September 30th.

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.