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.

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