Raymond James Maintains a Buy Rating on Steelcase Inc (SCS)

By Jason Carr

In a report released today, Budd Bugatch from Raymond James maintained a Buy rating on Steelcase Inc (NYSE: SCS), with a price target of $20. The company’s shares closed on Friday at $19.05, close to its 52-week high of $19.35.

According to TipRanks.com, Bugatch is a 5-star analyst with an average return of 11.7% and a 62.9% success rate. Bugatch covers the Services sector, focusing on stocks such as Wal-Mart Stores Inc, Bed Bath & Beyond, and Rent-A-Center Inc.

Steelcase Inc has an analyst consensus of Moderate Buy, with a price target consensus of $20.

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The company has a one-year high of $19.35 and a one-year low of $13.10. Currently, Steelcase Inc has an average volume of 543.3K.

Based on the recent corporate insider activity of 79 insiders, corporate insider sentiment is negative on the stock.

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Steelcase, Inc. engages in the provision of furnishing solutions; and architecture, furniture, and technology products. It operates through following segments: Americas, EMEA, and Others. The Americas segment serves customers in the United States (U.S.), Canada, the Caribbean Islands, and Latin America.