Sidoti lifts Steelcase Inc. [SCS] price estimate. Who else is bullish?

Steelcase Inc. [NYSE: SCS] traded at a low on 12/21/20, posting a -8.31 loss after which it closed the day’ session at $12.47. The company report on December 18, 2020 that Steelcase Reports Third Quarter Fiscal 2021 Results.

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Revenue and orders continue to be significantly impacted by COVID-19 pandemic.

Actions to reduce fixed costs and discretionary spending provided significant savings versus the prior year.

The results of the trading session contributed to over 1321010 shares changing hands. Over the past one week, the price volatility of Steelcase Inc. stands at 7.71% while the volatility over the past one month is 4.76%.

The market cap for SCS stock reached $1.39 billion, with 114.80 million shares outstanding and 102.05 million shares in the current float. Compared to the average trading volume of 852.17K shares, SCS reached a trading volume of 1321010 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Steelcase Inc. [SCS]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SCS shares is $15.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SCS stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Sidoti have made an estimate for Steelcase Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 15, 2020. The new note on the price target was released on August 24, 2020, representing the official price target for Steelcase Inc. stock.

The Average True Range (ATR) for Steelcase Inc. is set at 0.71, with the Price to Sales ratio for SCS stock in the period of the last 12 months amounting to 0.43. The Price to Book ratio for the last quarter was 1.51, with the Price to Cash per share for the same quarter was set at 4.64. Price to Free Cash Flow for SCS in the course of the last twelve months was 6.59 with Quick ratio for the last quarter at 1.50.

How has SCS stock performed recently?

Steelcase Inc. [SCS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.88. With this latest performance, SCS shares gained by 0.65% in over the last four-week period, additionally plugging by 2.80% over the last 6 months – not to mention a drop of -42.30% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SCS stock in for the last two-week period is set at 47.14, with the RSI for the last a single of trading hit 42.97, and the three-weeks RSI is set at 49.48 for Steelcase Inc. [SCS]. The present Moving Average for the last 50 days of trading for this stock 12.24, while it was recorded at 13.32 for the last single week of trading, and 11.20 for the last 200 days.

Steelcase Inc. [SCS]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Steelcase Inc. [SCS] shares currently have an operating margin of +6.82 and a Gross Margin at +32.59. Steelcase Inc.’s Net Margin is presently recorded at +5.26.

Return on Total Capital for SCS is now 16.67, given the latest momentum, and Return on Invested Capital for the company is 13.06. Return on Equity for this stock inclined to 21.51, with Return on Assets sitting at 8.32. When it comes to the capital structure of this company, Steelcase Inc. [SCS] has a Total Debt to Total Equity ratio set at 76.40. Additionally, SCS Total Debt to Total Capital is recorded at 43.31, with Total Debt to Total Assets ending up at 28.90. Long-Term Debt to Equity for the company is recorded at 71.66, with the Long-Term Debt to Total Capital now at 40.62.

Reflecting on the efficiency of the workforce at the company, Steelcase Inc. [SCS] managed to generate an average of $15,417 per employee. Receivables Turnover for the company is 9.52 with a Total Asset Turnover recorded at a value of 1.58.Steelcase Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.80.

Earnings analysis for Steelcase Inc. [SCS]

With the latest financial reports released by the company, Steelcase Inc. posted 0.39/share EPS, while the average EPS was predicted by analysts to be reported at 0.32/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 21.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SCS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Steelcase Inc. go to 10.00%.

Insider trade positions for Steelcase Inc. [SCS]

There are presently around $991 million, or 94.60% of SCS stock, in the hands of institutional investors. The top three institutional holders of SCS stocks are: VANGUARD GROUP INC with ownership of 8,431,689, which is approximately -4.526% of the company’s market cap and around 0.70% of the total institutional ownership; EARNEST PARTNERS LLC, holding 7,661,575 shares of the stock with an approximate value of $95.54 million in SCS stocks shares; and BLACKROCK INC., currently with $90.95 million in SCS stock with ownership of nearly -4.505% of the company’s market capitalization.

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Positions in Steelcase Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 97 institutional holders increased their position in Steelcase Inc. [NYSE:SCS] by around 8,130,222 shares. Additionally, 106 investors decreased positions by around 9,283,483 shares, while 40 investors held positions by with 62,074,402 shares. The mentioned changes placed institutional holdings at 79,488,107 shares, according to the latest SEC report filing. SCS stock had 24 new institutional investments in for a total of 764,909 shares, while 25 institutional investors sold positions of 4,133,356 shares during the same period.

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