Steelcase Inc. (SCS) Reached A New High 4 times During The Past Five Days


As of Wednesday close, Steelcase Inc.’s (NYSE:SCS) stock was up $0.06, moving up 0.71 percent to $8.50. The average number of shares traded per day over the past five days has been 450,340 shares. 4 times new highs have been achieved over the past 5 days, with a $0.32 gain in that time frame. In the last twenty days, the average volume was 582,220, while in the previous 50 days, it was 1,090,796.

Since last month, SCS stock rose 15.80%. Shares of the company fell to $6.81 on 10/24/22, the lowest level in the past month. A 52-week high of $12.93 was reached on 01/19/22 after having rallying from a 52-week low of $6.52. Since the beginning of this year, SCS’s stock price has dropped by -27.47% or -$3.22, and marked a new high 7 times. However, the stock has declined by -34.26% since its 52-week high.

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SCS stock investors should be aware that Steelcase Inc. (SCS) stock had its last reported insider trading activity 57 days ago on Sep 28. Armbruster Sara E, the President and CEO of the company, purchased of 5,735 shares for $6.83 on Sep 28. It resulted in a $39,164 investment by the insider. O’Shaughnessy Lizbeth S sold 30,000 shares at an average price of $11.26 on Aug 03. The insider now owns 288,388 shares following the transaction. On Apr 27, Director Niemann Jennifer C sold 3,900 shares at $11.98 apiece. The transaction was valued at $46,708.

Valuation Metrics

Right now, Steelcase Inc. (SCS) has a P/E ratio of about 63.91. The stock’s beta is 1.36. Besides these, the trailing price-to-sales (P/S) ratio of 0.31, the price-to-book (PB) ratio of 1.20.

The latest dividend of $0.10 per share was paid out, which is -31.03% less than last year’s $0.1450. On Thursday September 22 2022, a $0.0450 dividend decrease was announced.

Financial Health

In the three months ended August 30, Steelcase Inc.’s quick ratio stood at 0.80, while its current ratio was 1.30, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending August 30 was 0.56, and the total debt-to-equity ratio was 0.70. On the profitability front, the trailing twelve-month gross margin is 27.20% percent. In the year ended August 30, operating margins totaled 1.10%. Based on annual data, SCS earned $761.5 million in gross profit and brought in $2.77 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 1.70%. Return on equity (ROE) for the past 12 months was 1.80%.

In Steelcase Inc.’s quarter-end financial report for August 30, it reported total debt of $445.4 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. SCS’s revenue rose 16.04% to $740.7 million during the quarter, while net income inched up to $863.3 million. While analysts expected Steelcase Inc. to report $0.13 quarterly earnings, the actual figure was $0.21 per share, beating the consensus estimate by 61.50%. During the quarter, the company generated $52.4 million in EBITDA. The liabilities of Steelcase Inc. were 1.5 billion at the end of its most recent quarter ended August 30, and its total debt was $772.9 million. The value of shareholders’ equity is $112.78 million.

Technical Picture

This quick technical analysis looks at Steelcase Inc.’s (SCS) price momentum. With a historical volatility rate of 21.82%, the RSI 9-day stood at 70.44% on 23 November.

With respect to its five-day moving average, the current Steelcase Inc. price is up by +3.91% percent or $0.32. At present, SCS shares trade +17.08% above its 20-day simple moving average and -20.63% percent below its 100-day simple moving average. However, the stock is currently trading approximately -21.08% below its SMA50 and -30.10% below its SMA200.

Stochastic coefficient K was 92.71% and Stochastic coefficient D was 86.22%, while ATR was 0.28. Given the Stochastic reading of 96.04% for the 14-day period, the RSI (14) reading has been calculated as 63.57%. As of today, the MACD Oscillator reading stands at 0.12, while the 14-day reading stands at 0.29.

Analyst Ratings

Sidoti upgraded its rating on Steelcase Inc. (NYSE: SCS) to a Buy in a note to investors on October 04, 2022. The analysts firm previously had a Neutral rating on the stock.Steelcase Inc. (SCS) has been rated Buy by analysts. According to 0 brokerage firms, SCS is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Steelcase Inc. stock as buy, with 2 recommending it as overweight.

With a median target price of $11.00, the current consensus forecast for the stock is $10.00 – $12.00. Based on these forecasts, analysts predict Steelcase Inc. (SCS) will achieve an average price target of $11.00.


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