Steelcase (NYSE:SCS) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Steelcase Inc. (NYSE:SCS) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $15.35 and traded as high as $16.25. Steelcase shares last traded at $16.11, with a volume of 4,114,343 shares trading hands.

Analysts Set New Price Targets

SCS has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Steelcase in a report on Friday, October 31st. Zacks Research cut shares of Steelcase from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Steelcase Price Performance

The company has a 50 day moving average of $16.05 and a 200 day moving average of $15.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.18 and a current ratio of 1.66. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.47 and a beta of 1.26.

Institutional Trading of Steelcase

Several hedge funds have recently added to or reduced their stakes in SCS. Burney Co. raised its holdings in shares of Steelcase by 4.7% in the 3rd quarter. Burney Co. now owns 14,124 shares of the business services provider’s stock valued at $243,000 after purchasing an additional 633 shares in the last quarter. Arizona State Retirement System increased its holdings in Steelcase by 3.2% in the third quarter. Arizona State Retirement System now owns 25,503 shares of the business services provider’s stock valued at $439,000 after buying an additional 792 shares during the last quarter. GAMMA Investing LLC raised its stake in Steelcase by 222.0% in the third quarter. GAMMA Investing LLC now owns 1,639 shares of the business services provider’s stock valued at $28,000 after buying an additional 1,130 shares in the last quarter. Legal & General Group Plc raised its stake in Steelcase by 1.7% in the second quarter. Legal & General Group Plc now owns 96,212 shares of the business services provider’s stock valued at $1,003,000 after buying an additional 1,581 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in Steelcase by 7.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 22,707 shares of the business services provider’s stock worth $237,000 after buying an additional 1,601 shares during the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

Steelcase Company Profile

Steelcase, Inc is a global leader in the design and manufacture of workspace furniture and architectural solutions. The company develops a wide range of products including adjustable desks, ergonomic seating, collaborative furniture, movable walls, and integrated technology offerings aimed at enhancing productivity and well-being in office, education, and healthcare environments. Steelcase combines research on human behavior, work patterns, and technology trends to inform the development of its solutions, positioning itself as a partner for organizations seeking to optimize their physical spaces.

Through its portfolio of brands—such as Steelcase, Coalesse, and Steelcase Education—the company addresses the needs of corporate clients, learning institutions, and healthcare providers.