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

Seneca Foods Corp. (NASDAQ:SENEA - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $210.00 and last traded at $204.28, with a volume of 67539 shares. The stock had previously closed at $207.30.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SENEA shares. Freedom Capital cut Seneca Foods from a "strong-buy" rating to a "hold" rating in a report on Monday, August 10th. Weiss Ratings upgraded shares of Seneca Foods from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday, June 15th. Finally, Wall Street Zen lowered shares of Seneca Foods from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

Seneca Foods Trading Down 1.5%

The company has a current ratio of 3.77, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $1.38 billion, a P/E ratio of 11.80 and a beta of -0.03. The business has a 50 day moving average of $180.10 and a 200-day moving average of $157.53.

Seneca Foods (NASDAQ:SENEA - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $2.85 earnings per share for the quarter, missing the consensus estimate of $2.92 by ($0.07). The company 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%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SENEA. Royal Bank of Canada lifted its stake in Seneca Foods by 5.2% in the 1st quarter. Royal Bank of Canada now owns 7,738 shares of the company's stock valued at $690,000 after acquiring an additional 384 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 buying an additional 156 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Seneca Foods in the 1st quarter valued at about $245,000. Empowered Funds LLC increased its position in shares of Seneca Foods by 54.0% in the first quarter. Empowered Funds LLC now owns 14,865 shares of the company's stock valued at $1,324,000 after acquiring an additional 5,214 shares during the last quarter. Finally, Creative Planning bought a new stake in Seneca Foods during the second quarter worth about $266,000. 42.51% of the stock is 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.

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