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

Freedom Capital lowered shares of Seneca Foods (NASDAQ:SENEA) from a strong-buy rating to a hold rating in a report published on Monday morning,Zacks.com reports.

SENEA has been the topic of several other research reports. Wall Street Zen raised shares of Seneca Foods from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Weiss Ratings raised shares of 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 issued a Hold rating to the company. Based on data from MarketBeat.com, Seneca Foods has a consensus rating of “Moderate Buy”.

Seneca Foods Price Performance

Shares of SENEA stock opened at $184.42 on Monday. Seneca Foods has a 12 month low of $99.58 and a 12 month high of $189.59. The company has a market capitalization of $1.25 billion, a P/E ratio of 10.65 and a beta of -0.07. The stock has a 50 day moving average of $166.76 and a two-hundred day moving average of $148.50. 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 (NASDAQ:SENEA) last released its quarterly earnings data 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). The firm had revenue of $405.17 million for the quarter, compared to the consensus estimate of $327.00 million. Seneca Foods had a net margin of 6.75% and a return on equity of 14.96%.

Hedge Funds Weigh In On Seneca Foods

Hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC bought a new stake in Seneca Foods in the second quarter valued at $36,000. Public Employees Retirement System of Ohio bought a new position in shares of Seneca Foods during the first quarter valued at $54,000. Royal Bank of Canada lifted its holdings in shares of Seneca Foods by 22.6% during the first quarter. Royal Bank of Canada now owns 429 shares of the company’s stock valued at $65,000 after acquiring an additional 79 shares during the period. Quarry LP bought a new position in shares of Seneca Foods during the third quarter valued at $57,000. Finally, Employees Retirement System of Texas acquired a new stake in shares of Seneca Foods in the 3rd quarter valued at $64,000. Institutional investors own 42.51% of the company’s stock.

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.