Steelcase Inc. (NYSE: SCS). Extremely important positive changes in investment behavior have recently occurred: positive upside/downside volume developed, the stock’s recent price rise disrupted its longer term downtrend, and its shorter term price trend turned up.
Steelcase Inc. (NYSE: SCS). Marginal positive changes in fundamentals have recently occurred: significant quarterly earnings acceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
SCS’ future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be an important Value Builder.
Steelcase has a current Value Trend Rating of C (Neutral). The Value Trend Rating reflects contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Steelcase has a slightly negative Appreciation Score of 37 but a slightly positive Power Rating of 66, resulting in the Neutral Value Trend Rating.
Recent Price Action
Steelcase Inc. (NYSE: SCS) stock declined modestly by -1.3% on 8/20/24. The stock closed at $13.09. However, this decline was accompanied by unusually low trading volume at 52% of normal. The stock has performed in line with the market over the last nine months and has risen 6.5% during the last week.
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