Steelcase (NYSE:SCS) Earns Hold (C+) Rating from Weiss Ratings

Steelcase (NYSE:SCS)‘s stock had its “hold (c+)” rating restated by equities researchers at Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

A number of other analysts have also recently commented on the company. Zacks Research upgraded Steelcase from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Wall Street Zen cut Steelcase from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Noble Financial cut Steelcase from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Steelcase has an average rating of “Moderate Buy”.

Steelcase Price Performance

NYSE SCS opened at $15.99 on Friday. Steelcase has a one year low of $9.31 and a one year high of $17.40. The stock has a 50-day moving average of $16.76 and a 200 day moving average of $13.21. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 1.46 and a beta of 1.26. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.18 and a current ratio of 1.66.

Steelcase (NYSE:SCS) last released its quarterly earnings data on Friday, June 2nd. The business services provider reported $0.23 EPS for the quarter. Steelcase had a return on equity of 13.00% and a net margin of 2.92%.The company had revenue of $724.80 million during the quarter. On average, sell-side analysts forecast that Steelcase will post 1 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. purchased a new stake in shares of Steelcase during the first quarter worth about $11,642,000. Victory Capital Management Inc. grew its position in shares of Steelcase by 208.4% during the first quarter. Victory Capital Management Inc. now owns 1,413,845 shares of the business services provider’s stock worth $15,496,000 after purchasing an additional 955,431 shares in the last quarter. Parkwood LLC purchased a new stake in shares of Steelcase during the second quarter worth about $8,397,000. Allianz Asset Management GmbH grew its position in shares of Steelcase by 49.4% during the second quarter. Allianz Asset Management GmbH now owns 2,128,137 shares of the business services provider’s stock worth $22,196,000 after purchasing an additional 703,974 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Steelcase by 58.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,905,050 shares of the business services provider’s stock worth $19,870,000 after purchasing an additional 699,683 shares in the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.

Steelcase Company Profile

Steelcase Inc provides a portfolio of furniture and architectural products and services in the United States and internationally. It operates through Americas and International segments. The company's furniture portfolio includes furniture systems, seating, storage, fixed and height-adjustable desks, benches, and tables, as well as complementary products, such as work accessories, lighting, mobile power, and screens.