Steelcase Target of Unusually Large Options Trading (NYSE:SCS)

Steelcase Inc. (NYSE:SCS) was the recipient of unusually large options trading on Tuesday. Traders acquired 2,311 call options on the stock. This represents an increase of 711% compared to the typical volume of 285 call options.

A number of research analysts have recently commented on the company. Sidoti upped their price target on Steelcase from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Monday, June 1st. Benchmark assumed coverage on Steelcase in a report on Friday, May 22nd. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $18.67.

Several hedge funds and other institutional investors have recently modified their holdings of SCS. Pinz Capital Management LP acquired a new position in shares of Steelcase in the first quarter valued at $48,000. First Bank & Trust increased its position in shares of Steelcase by 27.3% during the 1st quarter. First Bank & Trust now owns 5,323 shares of the business services provider’s stock worth $53,000 after purchasing an additional 1,143 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Steelcase by 53.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,817 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 3,772 shares during the last quarter. Point72 Hong Kong Ltd boosted its position in Steelcase by 393.6% in the fourth quarter. Point72 Hong Kong Ltd now owns 6,362 shares of the business services provider’s stock valued at $130,000 after buying an additional 5,073 shares in the last quarter. Finally, Advisor Group Holdings Inc. acquired a new position in Steelcase in the first quarter valued at about $136,000. Institutional investors and hedge funds own 68.54% of the company’s stock.

Shares of NYSE SCS traded down $0.15 during trading hours on Tuesday, reaching $12.07. The stock had a trading volume of 41,203 shares, compared to its average volume of 1,006,262. The business’s fifty day moving average is $11.64 and its two-hundred day moving average is $14.55. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.72 and a quick ratio of 1.41. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 7.23 and a beta of 1.61. Steelcase has a twelve month low of $7.02 and a twelve month high of $23.02.

Steelcase Company Profile

Steelcase Inc manufactures and sells integrated furniture settings, user-centered technologies, and interior architectural products. It operates through Americas, EMEA, and Other Category segments. The company's furniture portfolio includes panel, fence and beam-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as complementary products, including worktools.

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