Seneca Foods (NASDAQ:SENEA) Reaches New 1-Year High – Time to Buy?

Shares of Seneca Foods Corp. (NASDAQ:SENEA) reached a new 52-week high during trading on Wednesday . The company traded as high as $181.50 and last traded at $181.8740, with a volume of 81771 shares traded. The stock had previously closed at $173.94.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Freedom Capital raised shares of Seneca Foods to a “strong-buy” rating in a research report on Wednesday, May 20th. Wall Street Zen upgraded shares of Seneca Foods from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings raised shares of Seneca Foods from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Strong Buy”.

Seneca Foods Stock Performance

The stock’s 50-day moving average price is $147.08 and its 200-day moving average price is $135.85. The company has a market cap of $1.23 billion, a P/E ratio of 10.93 and a beta of -0.03. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.06 and a quick ratio of 1.07.

Institutional Investors Weigh In On Seneca Foods

Hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC bought a new stake in shares of Seneca Foods in the second quarter valued at approximately $36,000. Public Employees Retirement System of Ohio acquired a new position in Seneca Foods in the 1st quarter valued at $54,000. Quarry LP acquired a new position in Seneca Foods in the 3rd quarter valued at $57,000. Employees Retirement System of Texas bought a new stake in shares of Seneca Foods during the 3rd quarter valued at $64,000. Finally, Royal Bank of Canada lifted its position in shares of Seneca Foods by 22.6% during the 1st quarter. Royal Bank of Canada now owns 429 shares of the company’s stock valued at $65,000 after acquiring an additional 79 shares during the period. 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.