Steelcase Inc. (NYSE:SCS) was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating in a note issued to investors on Tuesday.

Other analysts also recently issued research reports about the company. UBS AG cut Steelcase from a “strong-buy” rating to an “outperform” rating in a research note on Friday, June 23rd. Sidoti cut Steelcase from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research note on Wednesday, September 20th. BidaskClub cut Steelcase from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Raymond James Financial, Inc. reissued an “outperform” rating and set a $16.00 target price (down from $19.00) on shares of Steelcase in a research note on Friday, June 23rd. Finally, ValuEngine cut Steelcase from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $16.00.

Shares of Steelcase (SCS) traded up 0.33% on Tuesday, hitting $15.40. 477,503 shares of the stock traded hands. Steelcase has a 52 week low of $12.50 and a 52 week high of $18.15. The firm has a market capitalization of $1.79 billion, a PE ratio of 15.14 and a beta of 1.21. The firm’s 50 day moving average is $13.98 and its 200 day moving average is $15.21.

Steelcase (NYSE:SCS) last issued its quarterly earnings results on Monday, September 18th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.08. The firm had revenue of $775.60 million during the quarter, compared to the consensus estimate of $759.83 million. Steelcase had a return on equity of 15.72% and a net margin of 3.98%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $0.32 EPS. On average, analysts expect that Steelcase will post $0.93 EPS for the current fiscal year.

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In other news, Director Peter M. Wege II sold 14,400 shares of the company’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $13.81, for a total transaction of $198,864.00. Following the transaction, the director now directly owns 270,180 shares of the company’s stock, valued at $3,731,185.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 18.87% of the company’s stock.

A number of hedge funds have recently bought and sold shares of SCS. Ameritas Investment Partners Inc. purchased a new stake in Steelcase in the first quarter worth about $125,000. New York State Teachers Retirement System increased its position in Steelcase by 4.2% in the first quarter. New York State Teachers Retirement System now owns 7,500 shares of the business services provider’s stock worth $126,000 after buying an additional 300 shares in the last quarter. Chevy Chase Trust Holdings Inc. purchased a new stake in Steelcase in the second quarter worth about $147,000. Public Employees Retirement System of Ohio increased its position in Steelcase by 9.6% in the second quarter. Public Employees Retirement System of Ohio now owns 10,833 shares of the business services provider’s stock worth $152,000 after buying an additional 947 shares in the last quarter. Finally, Amalgamated Bank increased its position in Steelcase by 3.4% in the second quarter. Amalgamated Bank now owns 10,913 shares of the business services provider’s stock worth $153,000 after buying an additional 358 shares in the last quarter. 62.10% of the stock is currently owned by institutional investors.

About Steelcase

Steelcase Inc provides an integrated portfolio of furniture settings, user-centered technologies and interior architectural products. The Company’s segments include Americas, EMEA and Other Category. The Company’s furniture portfolio includes panel-based and freestanding furniture systems and complementary products, such as storage, tables and ergonomic worktools.

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