Seneca Foods (NASDAQ:SENEA) Stock Passes Above 200 Day Moving Average – Here’s Why

Seneca Foods Corp. (NASDAQ:SENEA) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $131.52 and traded as high as $152.98. Seneca Foods shares last traded at $149.21, with a volume of 188,941 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SENEA. Freedom Capital upgraded Seneca Foods to a “strong-buy” rating in a report on Wednesday, May 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Seneca Foods in a report on Friday, April 24th. Finally, Wall Street Zen downgraded Seneca Foods from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Strong Buy”.

Seneca Foods Stock Up 0.9%

The business has a fifty day moving average of $144.91 and a 200 day moving average of $131.52. The firm has a market cap of $1.01 billion, a P/E ratio of 11.48 and a beta of -0.03. The company has a quick ratio of 0.72, a current ratio of 4.34 and a debt-to-equity ratio of 0.37.

Seneca Foods (NASDAQ:SENEA) last released its quarterly earnings data on Thursday, June 11th. The company reported $3.70 EPS for the quarter. Seneca Foods had a return on equity of 12.30% and a net margin of 5.58%.The business had revenue of $393.85 million during the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC acquired a new position in Seneca Foods in the second quarter valued at about $36,000. Public Employees Retirement System of Ohio acquired a new position in Seneca Foods in the first quarter valued at about $54,000. Quarry LP acquired a new position in Seneca Foods in the third quarter valued at about $57,000. Employees Retirement System of Texas acquired a new position in Seneca Foods in the third quarter valued at about $64,000. Finally, Royal Bank of Canada grew its stake in Seneca Foods by 22.6% in 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. 42.51% of the stock is owned by institutional investors and hedge funds.

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.