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

Steelcase Inc. [NYSE: SCS] loss -10.06% on the last trading session, reaching $8.31 price per share at the time. The company report on September 21, 2022 that Steelcase Reports Second Quarter Fiscal 2023 Results.

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Revenue growth of 19% driven by strong backlog, including significant pricing benefits.

Gross margin improved 60 basis points compared to prior year despite continued significant inflationary pressure.

Steelcase Inc. represents 112.70 million in outstanding shares, while the company has a total market value of $970.36 million with the latest information. SCS stock price has been found in the range of $8.06 to $9.16.

If compared to the average trading volume of 576.48K shares, SCS reached a trading volume of 3143538 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $14.00 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 1.50. 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 Neutral, with their previous recommendation back on September 15, 2022. While these analysts kept the previous recommendation, Berenberg raised their target price to Buy. The new note on the price target was released on May 11, 2021, representing the official price target for Steelcase Inc. stock. Previously, the target price had yet another raise to $17, while The Benchmark Company analysts kept a Buy rating on SCS stock.

The Average True Range (ATR) for Steelcase Inc. is set at 0.44, with the Price to Sales ratio for SCS stock in the period of the last 12 months amounting to 0.33. The Price to Book ratio for the last quarter was 1.15, with the Price to Cash per share for the same quarter was set at 1.00.

Trading performance analysis for SCS stock

Steelcase Inc. [SCS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.44. With this latest performance, SCS shares dropped by -29.99% in over the last four-week period, additionally sinking by -30.46% over the last 6 months – not to mention a drop of -37.75% 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 18.40, with the RSI for the last a single of trading hit 12.77, and the three-weeks RSI is set at 23.57 for Steelcase Inc. [SCS]. The present Moving Average for the last 50 days of trading for this stock 11.13, while it was recorded at 9.11 for the last single week of trading, and 11.58 for the last 200 days.

Steelcase Inc. [SCS]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Steelcase Inc. [SCS] shares currently have an operating margin of +0.14 and a Gross Margin at +27.44. Steelcase Inc.’s Net Margin is presently recorded at +0.14.

Return on Equity for this stock inclined to 0.43, with Return on Assets sitting at 0.17.

Steelcase Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.60.

Steelcase Inc. [SCS]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Steelcase Inc. [SCS]

There are presently around $720 million, or 96.80% of SCS stock, in the hands of institutional investors. The top three institutional holders of SCS stocks are: PZENA INVESTMENT MANAGEMENT LLC with ownership of 9,307,779, which is approximately 17.244% of the company’s market cap and around 2.60% of the total institutional ownership; BLACKROCK INC., holding 8,011,901 shares of the stock with an approximate value of $66.58 million in SCS stocks shares; and VANGUARD GROUP INC, currently with $62.77 million in SCS stock with ownership of nearly 10.107% of the company’s market capitalization.

Positions in Steelcase Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 94 institutional holders increased their position in Steelcase Inc. [NYSE:SCS] by around 12,562,943 shares. Additionally, 96 investors decreased positions by around 4,638,383 shares, while 36 investors held positions by with 69,416,183 shares. The mentioned changes placed institutional holdings at 86,617,509 shares, according to the latest SEC report filing. SCS stock had 23 new institutional investments in for a total of 473,472 shares, while 30 institutional investors sold positions of 1,230,734 shares during the same period.


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