Scotiabank Cuts Lineage (NASDAQ:LINE) Price Target to $39.00

by · The Markets Daily

Lineage (NASDAQ:LINE – Free Report) had its price target decreased by Scotiabank from $44.00 to $39.00 in a research report released on Friday morning, Marketbeat.com reports. Scotiabank currently has a hold rating on the stock.

LINE has been the topic of several other reports. Robert W. Baird set a $43.00 target price on shares of Lineage in a research report on Thursday, August 6th. UBS Group increased their price target on shares of Lineage from $35.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, July 17th. The Goldman Sachs Group set a $53.00 price target on shares of Lineage in a research note on Wednesday, August 12th. Weiss Ratings raised Lineage from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 6th. Finally, Piper Sandler lowered their price objective on Lineage from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, August 27th. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $43.73.

View Our Latest Report on LINE

Lineage Price Performance

Shares of NASDAQ:LINE opened at $34.34 on Friday. The firm has a market capitalization of $7.82 billion, a PE ratio of -47.69 and a beta of 0.86. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 0.84. Lineage has a 1-year low of $31.33 and a 1-year high of $45.75. The business’s 50 day moving average is $39.38 and its 200-day moving average is $39.55.

Lineage (NASDAQ:LINE – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.98. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%.Lineage’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 earnings per share. Sell-side analysts predict that Lineage will post 2.5 earnings per share for the current year.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Wednesday, September 30th will be given a dividend of $0.5325 per share. The ex-dividend date is Wednesday, September 30th. This represents a $2.13 dividend on an annualized basis and a dividend yield of 6.2%. Lineage’s dividend payout ratio (DPR) is -295.83%.

Insider Transactions at Lineage

In other news, Chairman Kevin Marchetti purchased 25,000 shares of Lineage stock in a transaction on Friday, August 28th. The shares were purchased at an average cost of $39.50 per share, for a total transaction of $987,500.00. Following the completion of the transaction, the chairman directly owned 138,690 shares in the company, valued at approximately $5,478,255. This represents a 21.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robb A. Lemasters acquired 20,000 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were purchased at an average cost of $41.33 per share, for a total transaction of $826,600.00. Following the completion of the purchase, the chief financial officer directly owned 49,500 shares of the company’s stock, valued at approximately $2,045,835. The trade was a 67.80% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 71.60% of the company’s stock.

Institutional Trading of Lineage

Hedge funds have recently modified their holdings of the company. Vanderbilt University grew its position in Lineage by 4.1% during the 1st quarter. Vanderbilt University now owns 10,925 shares of the company’s stock worth $358,000 after acquiring an additional 431 shares during the last quarter. Paralel Advisors LLC bought a new position in Lineage in the 2nd quarter valued at $26,000. Rothschild Investment LLC raised its position in Lineage by 575.2% in the 4th quarter. Rothschild Investment LLC now owns 736 shares of the company’s stock valued at $26,000 after purchasing an additional 627 shares during the last quarter. Lombard Odier Asset Management USA Corp boosted its stake in Lineage by 14.4% in the first quarter. Lombard Odier Asset Management USA Corp now owns 8,000 shares of the company’s stock worth $262,000 after purchasing an additional 1,005 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in Lineage by 172.7% in 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 in the last quarter.

About Lineage

(Get Free Report)

Lineage, Inc is a global temperature-controlled industrial real estate and logistics company. It owns, operates and develops cold-storage facilities that help preserve and move perishable food products, including meat, seafood, dairy, fruits, vegetables and prepared foods.

The company provides a range of supply-chain services in addition to refrigerated and frozen warehousing. These services include transportation, distribution, port and rail logistics, food processing support, inventory management and other technology-enabled solutions designed to improve the efficiency and reliability of the food supply chain.

Lineage serves customers across North America, Europe and the Asia-Pacific region, with facilities located near major transportation hubs, ports and population centers.

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