Lineage (NASDAQ:LINE) Hits New 1-Year Low After Analyst Downgrade

Shares of Lineage, Inc. (NASDAQ:LINE) hit a new 52-week low during trading on Thursday after Evercore ISI lowered their price target on the stock from $88.00 to $78.00. Evercore ISI currently has an in-line rating on the stock. Lineage traded as low as $67.12 and last traded at $67.12, with a volume of 58041 shares traded. The stock had previously closed at $67.80.

Several other research firms have also issued reports on LINE. Morgan Stanley began coverage on Lineage in a research note on Monday, August 19th. They issued an “overweight” rating and a $100.00 target price on the stock. The Goldman Sachs Group lowered their target price on shares of Lineage from $105.00 to $104.00 and set a “buy” rating for the company in a research note on Friday, September 13th. JPMorgan Chase & Co. started coverage on Lineage in a research report on Monday, August 19th. They set an “overweight” rating and a $93.00 price target on the stock. Capital One Financial began coverage on Lineage in a research report on Monday, September 16th. They issued an “overweight” rating and a $91.00 price objective for the company. Finally, Bank of America initiated coverage on Lineage in a research report on Monday, August 19th. They set a “buy” rating and a $100.00 target price on the stock. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $92.88.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in Lineage during the third quarter worth approximately $658,000. Perpetual Ltd purchased a new position in shares of Lineage during the 3rd quarter worth $324,000. Renaissance Capital LLC acquired a new position in shares of Lineage during the 3rd quarter valued at about $5,209,000. Vontobel Holding Ltd. purchased a new stake in shares of Lineage in the third quarter valued at about $1,026,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Lineage during the third quarter worth about $3,582,000.

Lineage Stock Performance

The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.95 and a current ratio of 1.10. The stock has a 50 day moving average price of $78.32.

Lineage Announces Dividend

The company also recently declared a — dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, September 30th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Monday, September 30th.

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.