Seneca Foods (NASDAQ:SENEA) Rating Lowered to Buy at Wall Street Zen

Seneca Foods (NASDAQ:SENEA) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

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

Seneca Foods Stock Performance

Shares of SENEA stock opened at $191.70 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 stock has a fifty day simple moving average of $169.61 and a two-hundred day simple moving average of $150.08. The firm has a market capitalization of $1.30 billion, a PE ratio of 11.07 and a beta of -0.07. Seneca Foods has a 52-week low of $99.58 and a 52-week high of $196.39.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC bought a new position in Seneca Foods during the fourth quarter valued at approximately $722,000. Teacher Retirement System of Texas increased its stake in Seneca Foods by 75.0% in the 4th quarter. Teacher Retirement System of Texas now owns 21,633 shares of the company’s stock worth $2,393,000 after acquiring an additional 9,273 shares during the last quarter. Range Financial Group LLC bought a new stake in Seneca Foods in the 1st quarter worth approximately $1,140,000. Lazard Asset Management LLC raised its holdings in shares of Seneca Foods by 30.9% during the 1st quarter. Lazard Asset Management LLC now owns 57,470 shares of the company’s stock worth $8,685,000 after acquiring an additional 13,564 shares in the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Seneca Foods during the 2nd quarter worth approximately $1,808,000. Institutional investors own 42.51% of the company’s stock.

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.