Seneca Foods (NASDAQ:SENEA) Hits New 52-Week High – Still a Buy?

Seneca Foods Corp. (NASDAQ:SENEA)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $155.15 and last traded at $148.7910, with a volume of 2641 shares traded. The stock had previously closed at $147.35.

Analyst Ratings Changes

Several analysts have commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Seneca Foods in a report on Monday, December 29th. Wall Street Zen cut shares of Seneca Foods from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Seneca Foods currently has a consensus rating of “Buy”.

Seneca Foods Trading Down 0.5%

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.72 and a current ratio of 4.34. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 11.62 and a beta of 0.02. The business has a fifty day moving average price of $132.80 and a 200 day moving average price of $120.04.

Seneca Foods (NASDAQ:SENEA) last issued its earnings results on Thursday, February 5th. The company reported $6.48 earnings per share for the quarter. Seneca Foods had a return on equity of 12.30% and a net margin of 5.58%.The firm had revenue of $508.35 million for the quarter.

Hedge Funds Weigh In On Seneca Foods

Hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new stake in shares of Seneca Foods during the 3rd quarter worth about $28,000. EverSource Wealth Advisors LLC purchased a new position in Seneca Foods in the second quarter valued at approximately $36,000. CWM LLC lifted its position in Seneca Foods by 75.9% during the third quarter. CWM LLC now owns 475 shares of the company’s stock valued at $51,000 after buying an additional 205 shares in the last quarter. Quarry LP purchased a new stake in Seneca Foods during the third quarter worth approximately $57,000. Finally, Employees Retirement System of Texas purchased a new stake in Seneca Foods during the third quarter worth approximately $64,000. 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.