BidaskClub Lowers Seneca Foods (NASDAQ:SENEA) to Buy

BidaskClub cut shares of Seneca Foods (NASDAQ:SENEA) from a strong-buy rating to a buy rating in a research report released on Saturday, BidAskClub reports.

SENEA stock opened at $25.41 on Friday. Seneca Foods has a 52 week low of $21.97 and a 52 week high of $35.90. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.91 and a quick ratio of 0.66. The company’s fifty day simple moving average is $28.61.

Seneca Foods (NASDAQ:SENEA) last released its quarterly earnings data on Thursday, June 13th. The company reported ($0.14) EPS for the quarter. Seneca Foods had a net margin of 1.28% and a negative return on equity of 6.09%. The business had revenue of $262.59 million for the quarter.

A number of hedge funds have recently bought and sold shares of SENEA. Pennsylvania Trust Co purchased a new position in Seneca Foods in the 1st quarter worth about $564,000. Brandes Investment Partners LP increased its position in Seneca Foods by 63.9% during the 1st quarter. Brandes Investment Partners LP now owns 44,948 shares of the company’s stock valued at $1,106,000 after purchasing an additional 17,516 shares during the period. Marshall Wace LLP purchased a new position in Seneca Foods during the 1st quarter valued at about $423,000. Martingale Asset Management L P increased its position in Seneca Foods by 65.4% during the 1st quarter. Martingale Asset Management L P now owns 40,703 shares of the company’s stock valued at $1,002,000 after purchasing an additional 16,100 shares during the period. Finally, Shufro Rose & Co. LLC increased its position in Seneca Foods by 36.3% during the 2nd quarter. Shufro Rose & Co. LLC now owns 55,000 shares of the company’s stock valued at $1,531,000 after purchasing an additional 14,650 shares during the period. 49.01% of the stock is currently owned by institutional investors.

About Seneca Foods

Seneca Foods Corporation provides packaged fruits and vegetables in the United States and internationally. It offers canned, frozen, and bottled produce; 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, READ, Green Valley, Cherryman, and Seneca Farms.

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