Steelcase Inc. (NYSE: SCS) has benefited from exceptional positive changes in investment behavior: the stock’s recent price rise disrupted its longer term downtrend, its longer term price trend turned up, and its shorter term price trend turned up.
Steelcase Inc. (NYSE: SCS) has benefited from meaningful positive changes in fundamentals: significant quarterly earnings acceleration occurred, and the stock’s power rating rose above 70.
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). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Steelcase has a neutral Appreciation Score of 41 and a slightly positive Power Rating of 70, triggering the Neutral Value Trend Rating.
Recent Price Action
On 10/17/24, Steelcase Inc. (NYSE: SCS) stock rose modestly by 0.5%, closing at $13.21. However, this advance was accompanied by below average trading volume at 73% of normal. The stock has performed in line with the market over the last nine months and has risen 1.4% during the last week.
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