Lineage (NASDAQ:LINE) Downgraded by JPMorgan Chase & Co. to Neutral

JPMorgan Chase & Co. cut shares of Lineage (NASDAQ:LINE) from an overweight rating to a neutral rating in a research note released on Friday, MarketBeat Ratings reports. They currently have $75.00 price objective on the stock, down from their previous price objective of $78.00.

Several other research analysts have also recently issued reports on LINE. Evercore ISI cut their target price on Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Royal Bank of Canada cut their price objective on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, November 13th. Scotiabank lowered their target price on shares of Lineage from $94.00 to $76.00 and set a “sector outperform” rating for the company in a report on Tuesday, December 10th. The Goldman Sachs Group cut their price target on shares of Lineage from $104.00 to $89.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Finally, Robert W. Baird reduced their price objective on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $88.50.

Lineage Stock Up 2.9 %

Lineage stock opened at $58.57 on Friday. The firm has a fifty day simple moving average of $67.64. Lineage has a 1-year low of $56.67 and a 1-year high of $89.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07.

Lineage (NASDAQ:LINE) last announced 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). The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. Lineage’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 EPS. Analysts anticipate that Lineage will post 3 earnings per share for the current fiscal year.

Lineage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be given a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date is Tuesday, December 31st.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. US Bancorp DE purchased a new stake in Lineage in the 3rd quarter worth about $25,000. Larson Financial Group LLC bought a new position in Lineage during the third quarter worth about $34,000. Spirit of America Management Corp NY purchased a new position in shares of Lineage in the third quarter worth about $165,000. Stifel Financial Corp bought a new stake in shares of Lineage in the third quarter valued at approximately $211,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of Lineage during the 3rd quarter valued at approximately $226,000.

About Lineage

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.