Lineage (NASDAQ:LINE) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Lineage, Inc. (NASDAQ:LINE) saw an uptick in trading volume on Thursday . 1,445,474 shares changed hands during mid-day trading, an increase of 107% from the previous session’s volume of 698,527 shares.The stock last traded at $55.20 and had previously closed at $54.65.

Analyst Ratings Changes

Several analysts recently commented on the stock. Evercore ISI reduced their target price on shares of Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. downgraded Lineage from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $78.00 to $75.00 in a research report on Friday, December 20th. The Goldman Sachs Group dropped their price target on Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a report on Friday, January 17th. Robert W. Baird decreased their price objective on Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Finally, BNP Paribas initiated coverage on Lineage in a report on Tuesday, January 14th. They set a “neutral” rating and a $61.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.88.

Lineage Price Performance

The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The business’s fifty day moving average price is $58.26 and its 200 day moving average price is $69.74.

Lineage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.5275 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.84%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LINE. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in Lineage in the 3rd quarter worth about $867,000. IFM Investors Pty Ltd bought a new position in Lineage in the 3rd quarter valued at approximately $1,122,000. Spirit of America Management Corp NY bought a new stake in Lineage during the 3rd quarter worth approximately $165,000. State of Alaska Department of Revenue acquired a new position in Lineage in the 3rd quarter valued at approximately $2,306,000. Finally, Vanderbilt University acquired a new position in shares of Lineage during the third quarter worth $930,000.

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.