Lineage (NASDAQ:LINE) Sets New 1-Year High – Here’s Why

Lineage, Inc. (NASDAQ:LINE) shares hit a new 52-week high on Tuesday . The stock traded as high as $45.75 and last traded at $44.8310, with a volume of 92739 shares. The stock had previously closed at $43.49.

Analyst Ratings Changes

A number of research firms have recently issued reports on LINE. Wells Fargo & Company reduced their price target on shares of Lineage from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, June 1st. Wall Street Zen raised Lineage from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 19th. Morgan Stanley lifted their price objective on Lineage from $39.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 2nd. Barclays upped their target price on Lineage from $34.00 to $35.00 and gave the company an “underweight” rating in a report on Friday, May 15th. Finally, Truist Financial raised their price target on Lineage from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $41.62.

Lineage Price Performance

The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.76 and a current ratio of 0.85. The company has a 50-day moving average of $41.53 and a 200-day moving average of $38.20. The stock has a market capitalization of $9.86 billion, a price-to-earnings ratio of -69.82 and a beta of 0.85.

Lineage (NASDAQ:LINE) last announced its earnings results on Wednesday, May 6th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $1.01. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Lineage had a negative return on equity of 1.56% and a negative net margin of 2.72%.Lineage’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. As a group, equities research analysts expect that Lineage, Inc. will post 2.44 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, June 30th will be paid a dividend of $0.5325 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.13 dividend on an annualized basis and a dividend yield of 4.9%. Lineage’s dividend payout ratio (DPR) is presently -343.55%.

Institutional Trading of Lineage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Lineage in the 4th quarter valued at about $482,255,000. Morgan Stanley boosted its stake in shares of Lineage by 378.6% during the 4th quarter. Morgan Stanley now owns 5,017,332 shares of the company’s stock worth $175,607,000 after purchasing an additional 3,968,958 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Lineage by 712.1% during the first quarter. Bank of America Corp DE now owns 3,610,123 shares of the company’s stock worth $118,268,000 after buying an additional 3,165,593 shares in the last quarter. Darlington Partners Capital Management LP grew its holdings in shares of Lineage by 45.5% during the third quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock worth $198,332,000 after buying an additional 1,605,810 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Lineage by 636.1% in the fourth quarter. AQR Capital Management LLC now owns 1,330,439 shares of the company’s stock valued at $46,273,000 after buying an additional 1,149,686 shares during the last quarter.

About Lineage

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.