Seneca Foods (NASDAQ:SENEA) Hits New 12-Month High – Time to Buy?

Seneca Foods Corp. (NASDAQ:SENEA) hit a new 52-week high during trading on Monday . The stock traded as high as $165.26 and last traded at $156.1620, with a volume of 126302 shares. The stock had previously closed at $160.92.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SENEA. Wall Street Zen lowered shares of Seneca Foods from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Seneca Foods in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy”.

Seneca Foods Stock Down 3.8%

The firm has a 50-day simple moving average of $135.34 and a 200 day simple moving average of $121.15. The stock has a market capitalization of $1.05 billion, a P/E ratio of 12.42 and a beta of 0.03. The company has a debt-to-equity ratio of 0.37, a current ratio of 4.34 and a quick ratio of 0.72.

Seneca Foods (NASDAQ:SENEA) last released its quarterly earnings data on Thursday, February 5th. The company reported $6.48 earnings per share (EPS) for the quarter. The company had revenue of $508.35 million during the quarter. Seneca Foods had a return on equity of 12.30% and a net margin of 5.58%.

Hedge Funds Weigh In On Seneca Foods

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in shares of Seneca Foods by 5.2% during the first quarter. Royal Bank of Canada now owns 7,738 shares of the company’s stock worth $690,000 after purchasing an additional 384 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Seneca Foods by 5.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,813 shares of the company’s stock worth $250,000 after purchasing an additional 156 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Seneca Foods during the 1st quarter worth $245,000. Empowered Funds LLC lifted its holdings in Seneca Foods by 54.0% during the 1st quarter. Empowered Funds LLC now owns 14,865 shares of the company’s stock worth $1,324,000 after buying an additional 5,214 shares during the period. Finally, Creative Planning acquired a new position in shares of Seneca Foods in the second quarter worth approximately $266,000. 42.51% of the stock is currently owned by institutional investors and hedge funds.

Seneca Foods Company Profile

Seneca Foods Corporation is a leading producer and distributor of shelf-stable fruits, vegetables and fruit?based products. The company’s core activities include the processing, packaging and sale of canned fruits and vegetables, natural fruit juices, apple sauces and fruit?based snacks. Seneca Foods caters to both retail and foodservice markets, supplying national and international grocers, restaurant chains and food manufacturers with branded and private?label products.

Seneca Foods operates a network of manufacturing facilities and cold storage warehouses across North America, with key processing plants in New York, Michigan, California and Canada.