Seneca Foods (NASDAQ:SENEA) Rating Lowered to Hold at Freedom Capital

Seneca Foods (NASDAQ:SENEA) was downgraded by research analysts at Freedom Capital from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other analysts have also recently commented on SENEA. Weiss Ratings upgraded Seneca Foods from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 15th. Wall Street Zen raised Seneca Foods from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Seneca Foods Trading Up 2.6%

Seneca Foods stock opened at $184.42 on Monday. Seneca Foods has a 52-week low of $99.58 and a 52-week high of $189.59. The company has a quick ratio of 0.88, a current ratio of 3.77 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 10.65 and a beta of -0.07. The firm has a 50-day moving average price of $166.76 and a two-hundred day moving average price of $148.50.

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

Hedge Funds Weigh In On Seneca Foods

A number of institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in Seneca Foods by 22.6% in the 1st quarter. Royal Bank of Canada now owns 429 shares of the company’s stock worth $65,000 after purchasing an additional 79 shares during the last quarter. Ballentine Partners LLC lifted its holdings in shares of Seneca Foods by 3.2% during the 4th quarter. Ballentine Partners LLC now owns 2,862 shares of the company’s stock valued at $317,000 after buying an additional 89 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Seneca Foods by 11.0% during the 4th quarter. Van ECK Associates Corp now owns 908 shares of the company’s stock valued at $100,000 after buying an additional 90 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of 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 in the last quarter. Finally, Swiss National Bank grew its stake in shares of Seneca Foods by 2.3% in the 1st quarter. Swiss National Bank now owns 9,000 shares of the company’s stock valued at $1,360,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors 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.