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

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

A number of other analysts also recently commented on LINE. Royal Bank of Canada lowered their target price on Lineage from $94.00 to $81.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. Capital One Financial initiated coverage on shares of Lineage in a research note on Monday, September 16th. They set an “overweight” rating and a $91.00 price objective on the stock. Robert W. Baird lowered their price target on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Evercore ISI dropped 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. Finally, Scotiabank reduced their price target on Lineage from $94.00 to $76.00 and set a “sector outperform” rating for the company in a report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Lineage has an average rating of “Moderate Buy” and a consensus price target of $88.50.

Lineage Stock Up 2.9 %

Lineage stock opened at $58.57 on Friday. Lineage has a 52 week low of $56.67 and a 52 week high of $89.85. The business’s 50-day moving average price is $67.98. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95.

Lineage (NASDAQ:LINE) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) EPS for the quarter, missing the consensus estimate of $0.78 by ($3.22). Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the company earned $0.75 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. Research analysts anticipate that Lineage will post 3 EPS for the current year.

Lineage Announces Dividend

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

Hedge Funds Weigh In On Lineage

Several institutional investors have recently bought and sold shares of the company. US Bancorp DE purchased a new position in shares of Lineage in the third quarter valued at approximately $25,000. Larson Financial Group LLC acquired a new position in shares of Lineage in the third quarter worth $34,000. Spirit of America Management Corp NY purchased a new stake in shares of Lineage during the third quarter worth $165,000. Stifel Financial Corp purchased a new position in Lineage in the third quarter valued at $211,000. Finally, MetLife Investment Management LLC acquired a new position in Lineage during the 3rd quarter worth $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.