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3 Stocks Pushing The Food & Beverage Industry Lower

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

The Food & Beverage industry as a whole closed the day down 0.2% versus the S&P 500, which was down 0.3%. Laggards within the Food & Beverage industry included Seneca Foods ( SENEB), down 7.5%, Reeds ( REED), down 3.9%, National Beverage ( FIZZ), down 3.0%, Seneca Foods ( SENEA), down 4.5% and Inventure Foods ( SNAK), down 2.5%.

TheStreet Ratings Group would like to highlight 3 stocks that pushed the industry lower today:

Seneca Foods ( SENEA) is one of the companies that pushed the Food & Beverage industry lower today. Seneca Foods was down $1.45 (4.5%) to $30.95 on light volume. Throughout the day, 6,717 shares of Seneca Foods exchanged hands as compared to its average daily volume of 21,600 shares. The stock ranged in price between $30.84-$32.14 after having opened the day at $32.14 as compared to the previous trading day's close of $32.40.

Seneca Foods Corporation produces and distributes packaged fruits and vegetables in the United States and internationally. Seneca Foods has a market cap of $284.2 million and is part of the consumer goods sector. Shares are up 1.6% year-to-date as of the close of trading on Tuesday.

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TheStreet Ratings rates Seneca Foods as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and deteriorating net income.

Highlights from TheStreet Ratings analysis on SENEA go as follows:

  • SENEA's revenue growth has slightly outpaced the industry average of 3.7%. Since the same quarter one year prior, revenues slightly increased by 6.8%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • Net operating cash flow has increased to $45.49 million or 44.00% when compared to the same quarter last year. In addition, SENECA FOODS CORP has also vastly surpassed the industry average cash flow growth rate of -18.05%.
  • The current debt-to-equity ratio, 0.59, is low and is below the industry average, implying that there has been successful management of debt levels. Despite the fact that SENEA's debt-to-equity ratio is low, the quick ratio, which is currently 0.69, displays a potential problem in covering short-term cash needs.
  • SENECA FOODS CORP has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. The company has suffered a declining pattern earnings per share over the past two years. During the past fiscal year, SENECA FOODS CORP reported lower earnings of $1.23 versus $3.56 in the prior year.
  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Food Products industry. The net income has significantly decreased by 126.0% when compared to the same quarter one year ago, falling from $3.91 million to -$1.02 million.

You can view the full analysis from the report here: Seneca Foods Ratings Report

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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