Lineage (NASDAQ:LINE) Coverage Initiated by Analysts at Barclays

Barclays initiated coverage on shares of Lineage (NASDAQ:LINE) in a research note released on Wednesday morning,Benzinga reports. The firm issued an overweight rating and a $59.00 price target on the stock.

Other analysts also recently issued research reports about the company. Morgan Stanley cut their price target on Lineage from $80.00 to $75.00 and set an “overweight” rating on the stock in a report on Tuesday, April 1st. Piper Sandler decreased their target price on shares of Lineage from $90.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Mizuho cut their price objective on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. The Goldman Sachs Group lowered their target price on Lineage from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Finally, BNP Paribas initiated coverage on shares of Lineage in a report on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 price target for the company. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lineage has a consensus rating of “Moderate Buy” and an average target price of $77.63.

Lineage Price Performance

LINE traded down $3.29 on Wednesday, hitting $51.44. 420,404 shares of the company’s stock were exchanged, compared to its average volume of 1,285,979. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. The stock has a fifty day moving average of $57.49 and a two-hundred day moving average of $63.06. Lineage has a twelve month low of $46.63 and a twelve month high of $89.85.

Lineage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be paid a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Monday, March 31st.

Insider Buying and Selling at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of Lineage stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the purchase, the chairman now owns 24,317 shares in the company, valued at approximately $1,471,178.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Lineage

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Lineage during the 4th quarter valued at about $681,572,000. Vanguard Group Inc. lifted its stake in shares of Lineage by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company’s stock worth $562,003,000 after buying an additional 408,526 shares during the last quarter. D1 Capital Partners L.P. boosted its holdings in Lineage by 257.5% in the 4th quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company’s stock valued at $219,848,000 after purchasing an additional 2,703,598 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Lineage by 92.1% during the 4th quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company’s stock worth $189,380,000 after purchasing an additional 1,550,478 shares during the period. Finally, Baillie Gifford & Co. raised its position in shares of Lineage by 80.8% during the fourth quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company’s stock valued at $181,484,000 after buying an additional 1,384,481 shares during the last quarter.

Lineage Company Profile

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.