Steelcase (SCS) is Downgraded by Raymond James to Mkt Perform

Steelcase (SCS) is Downgraded by Raymond James to Mkt Perform , according to the research report released to the investors. Earlier the firm had a rating of Strong Buy on the company shares. The shares recommendation by the Brokerage Firm was released on Dec-24-2015.

Shares of Steelcase Inc. (NYSE:SCS) ended Thursday session in red amid volatile trading. The shares closed down 0.19 points or 0.98% at $19.11 with 427,319 shares getting traded. Post opening the session at $19.35, the shares hit an intraday low of $19.02 and an intraday high of $19.35 and the price vacillated in this range throughout the day. The company has a market cap of $2,334 million and the number of outstanding shares has been calculated to be 122,149,663 shares. The 52-week high of Steelcase Inc. (NYSE:SCS) is $20.45 and the 52-week low is $16.06.

Analysts at Zacks have given a short term rating of hold on Steelcase Inc. (NYSE:SCS) with a rank of 3. The shares has received an average rating of 1 from 2 brokerage firms. 2 analysts have rated the company as a strong buy.

Shares of Steelcase Inc. rose by 0.42% in the last five trading days and 3.41% for the last 4 weeks. Steelcase Inc. is up 4.78% in the last 3-month period. Year-to-Date the stock performance stands at 8.41%.”

Steelcase Inc. (Steelcase) is engaged in furnishing the work experience in office environments. The Company creates great work experiences in business, education and healthcare environments. Steelcase and its family of brands including Steelcase, Coalesse, Details, Designtex, Nurture, PolyVision, and Turnstone offer a portfolio of products, services and applications designed to unlock human promise and support social, economic and environmental sustainability. The Company’s segments include the Americas segment, the EMEA segment and the Other category. Steelcase offers its products and services to customers worldwide, and it has sales, manufacturing and administrative operations in North America, Europe and Asia. Its furniture portfolio includes panel-based and freestanding furniture systems and products, such as storage, tables and ergonomic worktools.