Scotiabank Issues Pessimistic Forecast for Lineage (NASDAQ:LINE) Stock Price

Lineage (NASDAQ:LINE) had its price target decreased by Scotiabank from $76.00 to $73.00 in a research report released on Monday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada cut their price objective on Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. The Goldman Sachs Group cut their price target on shares of Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a report on Friday, January 17th. Mizuho decreased their price objective on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. BNP Paribas began coverage on shares of Lineage in a report on Tuesday, January 14th. They set a “neutral” rating and a $61.00 price objective for the company. Finally, Evercore ISI reduced their target price on Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $84.88.

Lineage Price Performance

NASDAQ LINE opened at $58.18 on Monday. Lineage has a twelve month low of $52.75 and a twelve month high of $89.85. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The company has a 50-day simple moving average of $59.77.

Lineage (NASDAQ:LINE) last released its quarterly earnings data 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 company 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%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 earnings per share. On average, equities research analysts forecast that Lineage will post 2.33 EPS for the current year.

Lineage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Tuesday, December 31st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE acquired a new position in Lineage in the third quarter valued at about $25,000. GAMMA Investing LLC raised its position in shares of Lineage by 7,466.7% in the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after acquiring an additional 448 shares during the period. Larson Financial Group LLC bought a new position in Lineage during the 3rd quarter worth approximately $34,000. Spirit of America Management Corp NY acquired a new position in Lineage during the third quarter valued at approximately $165,000. Finally, Stifel Financial Corp bought a new stake in Lineage in the third quarter valued at approximately $211,000.

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.