Shares of Steelcase (NYSE:SCS) were gapping down Thursday morning with an open price 11.2% lower than Wednesday's closing price. The stock closed at $6.81 yesterday and opened today's trading at $6.05.
NEW YORK ( TheStreet) -- Shares of Steelcase (NYSE: SCS) were gapping down Thursday morning with an open price 11.2% lower than Wednesday's closing price. The stock closed at $6.81 Wednesday and opened today's trading at $6.05. The average volume for Steelcase has been 862,000 shares per day over the past 30 days. Steelcase has a market cap of $925.3 million and is part of the consumer goods sector and consumer durables industry. Shares are down 35.6% year to date as of the close of trading on Wednesday. Steelcase Inc. designs, manufactures, and distributes furniture systems and seating products, user-centered technologies, and interior architectural products primarily in North America, Europe, and Asia. The company has a P/E ratio of 24.3, above the average consumer durables industry P/E ratio of 23.5 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Steelcase as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we also find weaknesses including poor profit margins and weak operating cash flow. You can view the full Steelcase Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping down? Get free SMS text alerts sent to you when the action happens by texting DOWN to 95370 or select from multiple alert options.