Seneca Foods (NASDAQ:SENEA) Stock Rating Upgraded by Wall Street Zen

Seneca Foods (NASDAQ:SENEA) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

Other analysts have also issued reports about the stock. Weiss Ratings restated a “buy (b)” rating on shares of Seneca Foods in a research note on Friday, April 24th. Freedom Capital raised Seneca Foods to a “strong-buy” rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. Based on data from MarketBeat.com, Seneca Foods presently has an average rating of “Strong Buy”.

Seneca Foods Stock Up 17.5%

SENEA stock opened at $175.37 on Friday. The company’s 50 day moving average price is $145.28 and its 200 day moving average price is $131.82. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.72 and a current ratio of 4.34. Seneca Foods has a fifty-two week low of $85.20 and a fifty-two week high of $176.09. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 10.56 and a beta of -0.03.

Hedge Funds Weigh In On Seneca Foods

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SENEA. EverSource Wealth Advisors LLC acquired a new position in Seneca Foods in the second quarter valued at approximately $36,000. Public Employees Retirement System of Ohio acquired a new position in Seneca Foods in the first quarter valued at approximately $54,000. Quarry LP acquired a new position in Seneca Foods in the third quarter valued at approximately $57,000. Employees Retirement System of Texas acquired a new position in Seneca Foods in the third quarter valued at approximately $64,000. Finally, Royal Bank of Canada boosted its holdings 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 purchasing an additional 79 shares in the last quarter. 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.