Seneca Foods (NASDAQ:SENEA) Reaches New 52-Week High - Should You Buy?

Key Points

• Seneca Foods shares reached a new 52-week high of $117.00, reflecting a strong trading performance with a volume of 35,724 shares.
• Analysts have mixed ratings for Seneca Foods, with Weiss Ratings maintaining a "buy (b-)" rating, while Wall Street Zen downgraded it from "buy" to "hold".
• In the latest quarterly earnings, Seneca Foods reported earnings per share of $0.86 and a net margin of 2.76% on revenues of $297.46 million.

Shares of Seneca Foods Corp. (NASDAQ:SENEA - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $115.78 and last traded at $117.00, with a volume of 35724 shares. The stock had previously closed at $114.07.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Weiss Ratings reissued a "buy (b-)" rating on shares of Seneca Foods in a report on Wednesday, October 8th. Wall Street Zen cut Seneca Foods from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy".

Seneca Foods Stock Up 2.7%

The company has a fifty day simple moving average of $108.23 and a 200-day simple moving average of $98.54. The company has a quick ratio of 0.66, a current ratio of 4.11 and a debt-to-equity ratio of 0.44. The firm has a market cap of $803.65 million, a P/E ratio of 18.90 and a beta of 0.19.

Seneca Foods (NASDAQ:SENEA - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.86 earnings per share for the quarter. Seneca Foods had a return on equity of 10.07% and a net margin of 2.76%.The firm had revenue of $297.46 million for the quarter.

Institutional Trading of Seneca Foods

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Seneca Foods by 2.1% in the first quarter. Vanguard Group Inc. now owns 307,325 shares of the company's stock worth $27,364,000 after purchasing an additional 6,208 shares in the last quarter. Invesco Ltd. lifted its position in shares of Seneca Foods by 80.0% in the first quarter. Invesco Ltd. now owns 52,492 shares of the company's stock valued at $4,674,000 after acquiring an additional 23,329 shares in the last quarter. Informed Momentum Co LLC purchased a new position in shares of Seneca Foods in the first quarter valued at about $1,032,000. American Century Companies Inc. raised its stake in Seneca Foods by 161.5% during the 1st quarter. American Century Companies Inc. now owns 70,929 shares of the company's stock valued at $6,316,000 after purchasing an additional 43,805 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in Seneca Foods during the 1st quarter valued at approximately $206,000. 42.51% of the stock is owned by hedge funds and other institutional investors.

Seneca Foods Company Profile

Seneca Foods Corporation provides packaged fruits and vegetables in the United States and internationally. The company offers canned, frozen, and jarred produce; jarred fruit; and snack chips and other food products under the private label, as well as under various national and regional brands that the company owns or licenses, including Seneca, Libby's, Aunt Nellie's, Cherryman, Green Valley, and READ.

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