Steelcase, Inc. (NYSE: SCS)’s stock price has plunge by 0.08relation to previous closing price of 11.82. Nevertheless, the company has seen a -3.35% plunge in its stock price over the last five trading sessions. InvestorPlace reported 2024-04-17 that Fifty dollars doesn’t go very far today—unless you’re looking for under-$50 stocks to buy now and round out your portfolio. Although inflation growth may be declining, the current cost of goods and services remains significantly higher than two years ago.
Is It Worth Investing in Steelcase, Inc. (NYSE: SCS) Right Now?
The price-to-earnings ratio for Steelcase, Inc. (NYSE: SCS) is 17.60x, which is above its average ratio. Moreover, the 36-month beta value for SCS is 1.31. Analysts have varying opinions on the stock, with 1 analysts rating it as a “buy,” 1 as “overweight,” 2 as “hold,” and 0 as “sell.”
The public float for SCS is 84.48M and currently, short sellers hold a 3.00% of that float. On April 19, 2024, SCS’s average trading volume was 819.83K shares.
SCS’s Market Performance
The stock of Steelcase, Inc. (SCS) has seen a -3.35% decrease in the past week, with a -8.08% drop in the past month, and a -4.44% fall in the past quarter. The volatility ratio for the week is 1.88%, and the volatility levels for the past 30 days are at 3.03% for SCS. The simple moving average for the last 20 days is -5.93% for SCS stock, with a simple moving average of 5.39% for the last 200 days.
Analysts’ Opinion of SCS
Sidoti, on the other hand, stated in their research note that they expect to see SCS reach a price target of $11. The rating they have provided for SCS stocks is “Buy” according to the report published on October 04th, 2022.
Sidoti gave a rating of “Neutral” to SCS, setting the target price at $12 in the report published on September 15th of the previous year.
SCS Trading at -7.43% from the 50-Day Moving Average
After a stumble in the market that brought SCS to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -18.64% of loss for the given period.
Volatility was left at 3.03%, however, over the last 30 days, the volatility rate increased by 1.88%, as shares sank -9.35% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -5.74% lower at present.
During the last 5 trading sessions, SCS fell by -3.35%, which changed the moving average for the period of 200-days by +49.56% in comparison to the 20-day moving average, which settled at $12.51. In addition, Steelcase, Inc. saw -12.50% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SCS starting from Krestakos Robert G, who sale 4,000 shares at the price of $12.61 back on Mar 25 ’24. After this action, Krestakos Robert G now owns 108,081 shares of Steelcase, Inc., valued at $50,453 using the latest closing price.
McGrath Nicole Cherie, the VP, Corp Controller and CAO of Steelcase, Inc., sale 1,792 shares at $13.95 during a trade that took place back on Dec 27 ’23, which means that McGrath Nicole Cherie is holding 33,899 shares at $24,998 based on the most recent closing price.
Stock Fundamentals for SCS
Current profitability levels for the company are sitting at:
- 0.04 for the present operating margin
- 0.32 for the gross margin
The net margin for Steelcase, Inc. stands at 0.03. The total capital return value is set at 0.08. Equity return is now at value 9.09, with 3.51 for asset returns.
Based on Steelcase, Inc. (SCS), the company’s capital structure generated 0.36 points at debt to capital in total, while cash flow to debt ratio is standing at 0.48. The debt to equity ratio resting at 0.55. The interest coverage ratio of the stock is 5.04.
Currently, EBITDA for the company is 219.6 million with net debt to EBITDA at 1.59. When we switch over and look at the enterprise to sales, we see a ratio of 0.53. The receivables turnover for the company is 9.03for trailing twelve months and the total asset turnover is 1.41. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.58.
Conclusion
To wrap up, the performance of Steelcase, Inc. (SCS) has been bad in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
