Lineage (NASDAQ:LINE) Reaches New 1-Year Low on Analyst Downgrade

Lineage, Inc. (NASDAQ:LINE) reached a new 52-week low during mid-day trading on Monday after Evercore ISI lowered their price target on the stock from $90.00 to $88.00. Evercore ISI currently has an in-line rating on the stock. Lineage traded as low as $75.46 and last traded at $75.50, with a volume of 309072 shares trading hands. The stock had previously closed at $76.87.

A number of other research firms have also weighed in on LINE. Robert W. Baird started coverage on shares of Lineage in a report on Monday, August 19th. They set an “outperform” rating and a $91.00 target price for the company. UBS Group started coverage on shares of Lineage in a report on Monday, August 19th. They set a “neutral” rating and a $88.00 target price for the company. Truist Financial started coverage on shares of Lineage in a report on Monday, August 19th. They set a “buy” rating and a $94.00 target price for the company. JPMorgan Chase & Co. started coverage on shares of Lineage in a report on Monday, August 19th. They set an “overweight” rating and a $93.00 target price for the company. Finally, Wells Fargo & Company increased their target price on shares of Lineage from $86.00 to $89.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $93.50.

Insider Buying and Selling at Lineage

In other Lineage news, CFO Robert Crisci bought 10,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was acquired at an average price of $78.00 per share, with a total value of $780,000.00. Following the completion of the purchase, the chief financial officer now owns 10,000 shares of the company’s stock, valued at approximately $780,000. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Nancy Joy Falotico purchased 1,300 shares of Lineage stock in a transaction that occurred on Friday, July 26th. The stock was bought at an average price of $78.00 per share, with a total value of $101,400.00. Following the completion of the transaction, the director now directly owns 2,452 shares of the company’s stock, valued at approximately $191,256. The trade was a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert Crisci purchased 10,000 shares of Lineage stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average cost of $78.00 per share, with a total value of $780,000.00. Following the transaction, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $780,000. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 12,150 shares of company stock valued at $947,700. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Lineage

An institutional investor recently bought a new position in Lineage stock. SG Americas Securities LLC purchased a new stake in shares of Lineage, Inc. (NASDAQ:LINE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,395 shares of the company’s stock, valued at approximately $658,000. Hedge funds and other institutional investors own 3.35% of the company’s stock.

Lineage Stock Performance

The stock has a market capitalization of $18.29 billion and a P/E ratio of -5.49. The company’s 50-day moving average is $82.95.

Lineage Announces Dividend

The company also recently declared a — dividend, which will be paid on Monday, October 21st. Investors of record on Monday, September 30th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, September 30th. Lineage’s dividend payout ratio (DPR) is currently -11.12%.

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.