Lineage (NASDAQ:LINE) Upgraded to “Hold” at Zacks Research

Lineage (NASDAQ:LINE) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts also recently weighed in on LINE. Citigroup boosted their target price on Lineage from $38.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of Lineage in a research report on Monday, December 29th. Scotiabank raised their target price on Lineage from $37.00 to $39.00 and gave the company a “sector perform” rating in a research report on Friday, January 9th. Piper Sandler lifted their target price on Lineage from $41.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, February 27th. Finally, Truist Financial boosted their price target on shares of Lineage from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $43.00.

Lineage Stock Performance

Shares of LINE stock opened at $39.16 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.80 and a quick ratio of 0.71. The firm has a 50-day moving average of $37.40 and a 200-day moving average of $37.81. Lineage has a one year low of $32.46 and a one year high of $61.01. The company has a market cap of $8.89 billion, a P/E ratio of -91.07 and a beta of -0.42.

Lineage (NASDAQ:LINE) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.70). The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Lineage had a negative return on equity of 1.06% and a negative net margin of 1.87%.The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 earnings per share. Equities research analysts forecast that Lineage will post 2.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Lineage

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its holdings in Lineage by 15.2% during the 1st quarter. Royal Bank of Canada now owns 4,956 shares of the company’s stock valued at $290,000 after buying an additional 653 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Lineage during the first quarter valued at about $886,000. Millennium Management LLC raised its stake in Lineage by 197.0% in the first quarter. Millennium Management LLC now owns 288,518 shares of the company’s stock worth $16,916,000 after buying an additional 191,362 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Lineage by 661.2% in the second quarter. Envestnet Asset Management Inc. now owns 124,357 shares of the company’s stock worth $5,412,000 after buying an additional 108,020 shares during the period. Finally, Bank of Montreal Can purchased a new stake in Lineage in the second quarter worth about $300,000.

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.