Seneca Foods (NASDAQ:SENEA) Stock Rating Raised to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Seneca Foods (NASDAQ:SENEA) from a buy rating to a strong-buy rating in a research note released on Saturday morning,Wall Street Zen reports.

SENEA has been the topic of several other reports. Weiss Ratings raised Seneca Foods from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. Freedom Capital lowered Seneca Foods from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Seneca Foods Stock Performance

SENEA stock opened at $158.56 on Friday. The stock’s 50 day simple moving average is $184.08 and its 200 day simple moving average is $166.89. The company has a current ratio of 3.77, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. Seneca Foods has a 12-month low of $99.58 and a 12-month high of $210.00. The stock has a market capitalization of $1.07 billion, a PE ratio of 9.16 and a beta of -0.03.

Seneca Foods (NASDAQ:SENEA) last posted its earnings results on Thursday, August 6th. The company reported $2.85 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 during the quarter, compared to the consensus estimate of $327.00 million.

Insiders Place Their Bets

In other Seneca Foods news, VP Dean Erstad sold 1,587 shares of the firm’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $206.16, for a total value of $327,175.92. Following the transaction, the vice president directly owned 609 shares of the company’s stock, valued at approximately $125,551.44. This trade represents a 72.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.24% of the company’s stock.

Institutional Investors Weigh In On Seneca Foods

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC bought a new stake in Seneca Foods during the second quarter valued at approximately $26,000. USA Financial Formulas bought a new stake in shares of Seneca Foods during the 3rd quarter valued at $40,000. Signaturefd LLC grew its position in shares of Seneca Foods by 88.6% during the 3rd quarter. Signaturefd LLC now owns 349 shares of the company’s stock valued at $62,000 after acquiring an additional 164 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Seneca Foods in the 1st quarter worth $54,000. Finally, Royal Bank of Canada increased its stake in shares of Seneca Foods by 22.6% in the 1st quarter. Royal Bank of Canada now owns 429 shares of the company’s stock worth $65,000 after purchasing an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 42.51% of the company’s stock.

Seneca Foods Company Profile

Seneca Foods Corporation is a U.S.-based food processor and producer of packaged fruits and vegetables. The company supplies retail, food service, industrial and government customers with canned, frozen and prepared foods, including vegetables, fruits, applesauce, snack products and ingredients.

Seneca markets products under brands including Seneca, Libby’s, Green Giant, Aunt Nellie’s, READ and CherryMan, while also producing private-label goods for retailers and other food companies. Its product portfolio includes canned and frozen vegetables, fruit products, shelf-stable meals and ingredients used by commercial food manufacturers.

Founded in 1949 and headquartered in Marion, New York, Seneca operates processing and distribution facilities primarily in the United States and sources agricultural products from North American growing regions.