Seneca Foods (NASDAQ:SENEA) Downgraded to Buy Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Seneca Foods from a "strong-buy" to a "buy" rating, while Weiss Ratings reaffirmed a "buy" and the stock's consensus rating remains Buy.
• Seneca reported quarterly EPS of $6.48 on revenue of $508.35 million; the stock has a 1-year range of $81.00–$146.54, a market cap of about $949 million, and a P/E of 10.78.
• The company has modest leverage (debt-to-equity 0.37) and strong short-term liquidity (current ratio 4.34), with roughly 42.51% of shares owned by institutional investors.

Seneca Foods (NASDAQ:SENEA - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Sunday.

Separately, Weiss Ratings restated a "buy (b)" rating on shares of Seneca Foods in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy".

Seneca Foods Stock Down 1.2%

Seneca Foods stock opened at $140.16 on Friday. Seneca Foods has a 1-year low of $81.00 and a 1-year high of $146.54. The business has a fifty day moving average price of $121.76 and a 200-day moving average price of $115.84. The company has a debt-to-equity ratio of 0.37, a current ratio of 4.34 and a quick ratio of 0.72. The stock has a market capitalization of $948.88 million, a price-to-earnings ratio of 10.78 and a beta of 0.02.

Seneca Foods (NASDAQ:SENEA - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The company reported $6.48 EPS for the quarter. The company had revenue of $508.35 million during the quarter. Seneca Foods had a return on equity of 12.30% and a net margin of 5.58%.

Institutional Trading of Seneca Foods

Hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new stake in Seneca Foods during the third quarter valued at $28,000. EverSource Wealth Advisors LLC acquired a new position in shares of Seneca Foods in the second quarter worth about $36,000. CWM LLC boosted its stake in shares of Seneca Foods by 75.9% during the 3rd quarter. CWM LLC now owns 475 shares of the company's stock worth $51,000 after acquiring an additional 205 shares in the last quarter. Quarry LP purchased a new stake in shares of Seneca Foods during the 3rd quarter worth about $57,000. Finally, Employees Retirement System of Texas acquired a new stake in shares of Seneca Foods during the 3rd quarter valued at about $64,000. 42.51% of the stock is owned by hedge funds and other institutional investors.

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.

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