Seneca Foods (NASDAQ:SENEA) Downgraded to “Hold” Rating by Freedom Capital

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

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

Seneca Foods Price Performance

Shares of Seneca Foods stock opened at $184.42 on Monday. 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 stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 10.65 and a beta of -0.07. Seneca Foods has a twelve month low of $99.58 and a twelve month high of $189.59. The company has a 50-day simple moving average of $166.76 and a two-hundred day simple moving average of $148.50.

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

Institutional Trading of Seneca Foods

Several large investors have recently made changes to their positions in the company. Royal Bank of Canada increased its stake in Seneca Foods by 5.2% in the first 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Seneca Foods by 5.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,813 shares of the company’s stock worth $250,000 after purchasing an additional 156 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Seneca Foods in the 1st quarter valued at $245,000. Empowered Funds LLC boosted its holdings in shares of Seneca Foods by 54.0% in the 1st quarter. Empowered Funds LLC now owns 14,865 shares of the company’s stock valued at $1,324,000 after purchasing an additional 5,214 shares in the last quarter. Finally, Creative Planning bought a new position in shares of Seneca Foods in the 2nd quarter valued at $266,000. Institutional investors and hedge funds own 42.51% of the company’s stock.

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.