Shares of Steelcase Inc (SCS) fell 3.38% on 7 July, closing at $10.87 after hitting an intraday low of $10.81. The stock is now 26.26% below its 52-week high of $14.74, though still 16.69% above its 52-week low of $9.32. Trading volume reached 310,153 shares, about 36.5% of its average daily volume of 848,738.
© Steelcase
Despite the decline, analysts remain optimistic. The average one-year price target from four analysts stands at $16.25, indicating a potential upside of 49.49%. Target estimates range from $15.00 to $18.00. Additionally, the average brokerage recommendation is 2.0, suggesting an "Outperform" rating on a scale where 1 indicates 'Strong Buy' and 5 denotes 'Sell'.
GuruFocus estimates the fair value of Steelcase at $11.78, implying an 8.37% upside based on historical trading multiples and projected business performance.
While short-term sentiment appears cautious, the broader outlook remains favourable. The analysis provided is based on historical data and professional projections and is not intended as personalised investment advice. GuruFocus holds no position in Steelcase Inc.
Source: www.gurufocus.com
