Lineage (NASDAQ:LINE) Given New $51.00 Price Target at The Goldman Sachs Group

Lineage (NASDAQ:LINE) had its price target hoisted by The Goldman Sachs Group from $46.00 to $51.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on the company. UBS Group cut their price objective on Lineage from $41.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Wall Street Zen cut shares of Lineage from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Royal Bank Of Canada raised their price target on Lineage from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. Barclays reaffirmed a “positive” rating on shares of Lineage in a research note on Wednesday, February 4th. Finally, Compass Point began coverage on Lineage in a research note on Wednesday. They set a “buy” rating and a $47.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Lineage currently has a consensus rating of “Hold” and a consensus target price of $43.72.

Lineage Stock Performance

Shares of LINE stock opened at $35.13 on Friday. The stock has a market cap of $7.98 billion, a PE ratio of -81.70 and a beta of -0.42. The company has a current ratio of 0.80, a quick ratio of 0.71 and a debt-to-equity ratio of 0.79. Lineage has a 12 month low of $32.46 and a 12 month high of $60.79. The company’s fifty day moving average price is $37.66 and its 200-day moving average price is $37.62.

Lineage (NASDAQ:LINE) last released its earnings results on Wednesday, February 25th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.70). Lineage had a negative return on equity of 1.06% and a negative net margin of 1.87%.The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the company posted $0.83 earnings per share. The company’s revenue was down .2% on a year-over-year basis. On average, equities analysts expect that Lineage will post 2.34 EPS for the current fiscal year.

Lineage Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 21st. Stockholders of record on Tuesday, March 31st will be issued a $0.5325 dividend. This is a positive change from Lineage’s previous quarterly dividend of $0.53. The ex-dividend date is Tuesday, March 31st. This represents a $2.13 dividend on an annualized basis and a dividend yield of 6.1%. Lineage’s dividend payout ratio (DPR) is presently -490.70%.

Insider Buying and Selling at Lineage

In related news, Chairman Kevin Patrick Marchetti purchased 13,300 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average price of $37.50 per share, for a total transaction of $498,750.00. Following the acquisition, the chairman owned 113,690 shares of the company’s stock, valued at approximately $4,263,375. This represents a 13.25% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 71.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LINE. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in Lineage by 58.0% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 76,007 shares of the company’s stock valued at $2,937,000 after acquiring an additional 27,905 shares during the period. Rockefeller Capital Management L.P. grew its position in Lineage by 110.2% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 22,927 shares of the company’s stock valued at $998,000 after acquiring an additional 12,021 shares during the last quarter. Waterfall Asset Management LLC purchased a new stake in Lineage in the third quarter worth $6,275,000. Corient Private Wealth LLC increased its stake in Lineage by 590.5% in the second quarter. Corient Private Wealth LLC now owns 88,680 shares of the company’s stock worth $3,859,000 after purchasing an additional 75,838 shares during the period. Finally, SCP Investment LP lifted its position in shares of Lineage by 113.3% during the third quarter. SCP Investment LP now owns 480,000 shares of the company’s stock worth $18,547,000 after purchasing an additional 255,000 shares during the last quarter.

Lineage Company Profile

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.