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Steelcase (SCS) Catches Eye: Stock Adds 5.4% in Session

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Steelcase Inc. (SCS - Free Report) was a big mover last session, as its shares rose over 5% on the day. The move came after the company reported third-quarter fiscal 2017 profit of $41.2 million and also welcomed Tim Brown, CEO and president of the global design consultancy IDEO, to join its Board of Directors. This led to far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $15.45 to $16,80 in the past one-month time frame.

Over the last 30 days, the company witnessed two negative estimate revisions while the Zacks Consensus Estimate moved lower over the same time frame, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent move higher can last.

Steelcase currently carries a Zacks Rank #4 (Sell).

A better-ranked stock in the business-office products space is Deluxe Corporation (DLX - Free Report) , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Is SCS going up? Or down? Predict to see what others think: Up or Down

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