Seneca Foods (NASDAQ:SENEA) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of Seneca Foods (NASDAQ:SENEA) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

Other research analysts have also issued research reports about the stock. Freedom Capital lowered shares of Seneca Foods from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Weiss Ratings upgraded shares of Seneca Foods from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 15th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Seneca Foods Trading Down 1.1%

Shares of Seneca Foods stock opened at $189.50 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 3.77. The firm has a 50-day moving average of $170.52 and a 200-day moving average of $150.60. Seneca Foods has a 52-week low of $99.58 and a 52-week high of $196.39. The stock has a market cap of $1.28 billion, a PE ratio of 10.95 and a beta of -0.07.

Seneca Foods (NASDAQ:SENEA) last released its quarterly earnings results on Thursday, August 6th. The company reported $2.85 EPS for the quarter, missing analysts’ consensus estimates of $2.92 by ($0.07). Seneca Foods had a return on equity of 14.96% and a net margin of 6.75%.The business had revenue of $405.17 million for the quarter, compared to the consensus estimate of $327.00 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in 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 buying an additional 384 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Seneca Foods by 5.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,813 shares of the company’s stock valued at $250,000 after buying an additional 156 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Seneca Foods in the 1st quarter valued at approximately $245,000. Empowered Funds LLC raised its position in shares of Seneca Foods by 54.0% in the 1st quarter. Empowered Funds LLC now owns 14,865 shares of the company’s stock valued at $1,324,000 after buying an additional 5,214 shares in the last quarter. Finally, Creative Planning bought a new stake in shares of Seneca Foods during the 2nd quarter worth approximately $266,000. Institutional investors and hedge funds own 42.51% of the company’s stock.

About Seneca Foods

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.