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$SCS Steelcase upgraded to buy

Long
NYSE:SCS   Steelcase Inc.

7 P/E ratio
Steelcase Inc. manufactures and sells integrated furniture settings, user-centered technologies, and interior architectural products. It operates through Americas, EMEA, and Other Category segments. The firms furniture portfolio includes panel, fence and beam-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as complementary products, including worktools and screens. Its seating products comprise ergonomic task chairs; seating for collaborative or casual settings; and specialty seating for specific vertical markets, such as healthcare and education. The firms interior architectural products include full and partial height walls and architectural pods. It also provides textiles, wall coverings, and surface imaging solutions for architects and designers; and ceramic steel surfaces for use in various applications, including static whiteboards and chalkboards through third party fabricators and distributors, as well as workplace strategy consulting, data-driven space measurement, lease origination, furniture and asset management, and hosted event services. The company markets and sells its products to corporate, government, healthcare, education, and retail customers under the Steelcase, Coalesse, Smith System, AMQ, Turnstone, Orangebox, Designtex, and PolyVision brands. It distributes its products and services through a network of independent and company-owned dealers, as well as directly to end-use customers. The company was founded by Peter Martin Wege, Walter D. Idema, and David Hunting on March 14, 1912 and is headquartered in Grand Rapids, MI.

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