Steelcase Inc. [SCS] fell -29.10% so far this year. What now?


Steelcase Company [NYSE: SCS] A -10.06% loss in the last trading session, to $8.31 per share at that time. Company report on September 21, 2022 Steelcase Corporation announces results for the second quarter of fiscal year 2023.

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19% revenue growth driven by strong backlog, including significant pricing advantages.

Gross margin improved by 60 basis points over the previous year despite continued significant inflationary pressures.

Steelcase Inc represents 112.70 million shares traded, while the company’s total market capitalization is $970.36 million with the latest information. SCS stock price is found in the range from $8.06 to $9.16.

If compared to the average trading volume of 576.48 thousand shares, SCS reached a trading volume of 3143538 on the last trading day, which is why market watchers consider the stock to be active.

Here’s what top stock market experts have to say about Steelcase Inc. [SCS]:

Based on careful and fact-backed analysis by Wall Street experts, the current consensus on a price target for SCS shares is $14.00 per share. Target price analysis and stock performance are usually carefully studied by market experts, and the current Wall Street consensus for SCS stock is a set recommendation at 1.50. This rating represents a strong buy recommendation, on a scale of 1 to 5, where 5 means strong sell, 4 represents sell, 3 represents hold, and 2 indicates buy.

Sidoti made a stock appreciation for Steelcase Inc. , retaining their opinion on the stock as neutral, with their previous recommendation back on September 15, 2022. While these analysts retained the previous recommendation, Berenberg raised its target price to buy. The new note about price target was released on May 11, 2021, which is the official target price for Steelcase Inc.’s stock. Previously, the target price had received another increase to $17, while Benchmark analysts maintained a buy rating on SCS stock.

The Average True Range (ATR) is set for Steelcase Inc. at 0.44, with a price-to-sales ratio for SCS stock in the past 12-month period at 0.33. The price-to-book ratio for the last quarter was 1.15, with the price-to-cash ratio for the stock in the same quarter set at 1.00.

SCSI stock trading performance analysis

Steelcase Company [SCS] It fell into the red at the end of last week, fell in a negative direction and fell by -13.44. With this latest performance, SCS shares are down -29.99% over the past four-week period, as well as -30.46% over the past six months — not to mention a -37.75% drop in the last year of trading.

Overbought and oversold stocks can be easily tracked by the Relative Strength Index (RSI), where an RSI result of over 70 is overbought, and any price below 30 indicates oversold conditions. The RSI of 50 represents neutral momentum in the market. The current RSI for SCS stock for the past two weeks was set at 18.40, with the RSI for the last one trading at 12.77, and the three-week RSI for Steelcase Inc. at 23.57. [SCS]. The current moving average for the last 50 trading days for this stock is 11.13 while it recorded at 9.11 for the last trading week, and 11.58 for the last 200 days.

Steelcase Company [SCS]A deeper look at fundamental analysis

Operating margin for any stock indicates how profitable the investment is, Steelcase Inc. explains. [SCS] The stock currently has an operating margin of +0.14 and a gross margin of +27.44. Steelcase Inc’s net margin is currently at +0.14.

The return on equity for this stock rose to 0.43, with the return on assets remaining at 0.17.

Steelcase’s liquidity data is similarly compelling, with the quick ratio at 0.90 and the current ratio at 1.60.

Steelcase Company [SCS]Earnings per share (EPS) analysis

The company’s progress can be seen through the prism of the EPS growth rate, while Wall Street analysts focus on forecasting the 5-year EPS growth rate for SCS. When it comes to the stated value, analysts expect Steelcase Inc.’s 5-year EPS growth rate to rise. to 10.00%.

Steelcase Inc.’s Internal Ownership Analysis. [SCS]

There are currently about $720 million, or 96.80% of SCS’s stock, in the hands of institutional investors. The three largest corporate owners of SCS shares are: PZENA INVESTMENT MANAGEMENT LLC with ownership of 9,307,779, which is approximately 17.244% of the company’s market capitalization and approximately 2.60% of the total corporate ownership; BLACKROCK INC. , which owns 80,119,901 shares of stock with an approximate value of $66.58 million in SCS stock; and VANGUARD GROUP INC, which currently holds $62.77 million in SCS stock with ownership of approximately 10.107% of the company’s market capitalization.

Positions in Steelcase Inc’s stock increased. held by institutional investors at the end of September and at the time of the September report, as 94 institutional owners consolidated their positions in Steelcase Inc. [NYSE:SCS] About 12562,943 shares. In addition, the number of 96 investors decreased by about 4,638,383 shares, while 36 investors held positions with 69,416,183 shares. The said changes put institutional holdings at 86,617,509 shares, according to the latest report from the Securities and Exchange Commission. SCS’s stock included 23 new institutional investments totaling 473,472 shares, while 30 institutional investors sold deals worth 1,230,734 shares during the same period.

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