Research Report Initiation on These Business Equipment Stocks -- VeriFone Systems, Pitney Bowes, Steelcase and Avery Dennison

Aug 01, 2016, 08:00 ET from Chelmsford Park SA

NEW YORK, August 1, 2016 /PRNewswire/ --

In today's pre-market research, turns investors' attention back to the Business Equipment space, which in Q2 2016 has plummeted 3.5% after declining at a 9.5% pace in the first quarter. We look at this morning's featured companies and see how they have performed in recent weeks: VeriFone Systems Inc. (NYSE: PAY), Pitney Bowes Inc. (NYSE: PBI), Steelcase Inc. (NYSE: SCS), and Avery Dennison Corp. (NYSE: AVY). Learn more about these stocks by downloading their free report at:

VeriFone Systems  

Shares in San Jose, California headquartered VeriFone Systems Inc. ended Friday's session 1.24% lower at $19.16 with a total volume of 2.56 million shares traded. The stock has advanced 7.04% in the last month. Shares in the Company, which designs, manufactures, markets, and supplies electronic payment solutions at the point of sale worldwide, are trading 9.06% below their 50-day moving average. Moreover, VeriFone Systems' stock has a Relative Strength Index (RSI) of 41.00.

On June 29th, 2016, Verifone Systems announced that it will provide Aldi France with 3,200 payment devices designed to accept all cashless payments including contactless and mobile wallets. Aldi France operates 900 retail locations and is a unit of Group Aldi, a leader in the global retail grocery market. The free Research Report on PAY is available at:

Pitney Bowes  

Stamford, Connecticut headquartered Pitney Bowes Inc.'s shares gained 0.73%, closing the day at $19.31. A total volume of 3.93 million shares was traded, which was above their three months average volume of 1.71 million shares. The stock has advanced 9.97% in the last month. The Company's shares are trading 5.86% above their 50-day moving average and 0.36% above their 200-day moving average. Additionally, shares of Pitney Bowes, which provides technology products and solutions in the United States and internationally, have an RSI of 66.16.

On July 18th, 2016, Pitney Bowes announced the launch of the SmartLink device, a digital technology solution that connects postage meters to the Pitney Bowes Commerce Cloud to streamline the client experience and enable a new range of services. The SmartLink device leverages a secure Internet of Things platform to enable a host of online tools and services, including automated postage rate updates, low postage alerts, AutoInk technology, usage tracking and analytics, error notifications and simple self-help tutorials, all with 24/7 online account management features. The SmartLink solution enables collection of real-time data from Pitney Bowes physical devices, paving the way to valuable data analytics and digital services. The complimentary Report on PBI can be downloaded at:


Last Friday, shares in Grand Rapids, Michigan headquartered Steelcase Inc. saw a slight decline of 0.48%, closing the session at $14.50. The stock recorded a trading volume of 549,314 shares. Shares of the Company, which designs, manufactures, and distributes an integrated portfolio of furniture settings, user-centered technologies, and interior architectural products, have advanced 6.85% in the last one month and are trading 1.56% below their 50-day moving average. Furthermore, Steelcase's stock has an RSI of 51.70.

As per notes filed with the SEC on July 15th, 2016, Steelcase held its annual meeting of shareholders on July 13th, 2016. At that meeting, shareholders elected ten nominees to the Board of Directors. The shareholders also voted on the proposal to approve named executive officer compensation and finally, they also ratified the appointment of independent registered public accounting firm. Visit us today and download our complete research report on SCS for free at:

Avery Dennison  

Glendale, California headquartered Avery Dennison Corp.'s shares finished the session 0.33% lower at $77.89 and with a total volume of 706,819 shares traded. The stock has advanced 6.96% in the last month, 7.87% in the previous three months, and 25.69% on YTD basis. The Company's shares are trading above their 50-day and 200-day moving averages by 4.71% and 14.83%, respectively. Additionally, shares of Avery Dennison, which produces and sells pressure-sensitive materials worldwide, have an RSI of 64.79.

On July 01st, 2016, research firm Bank of America/ Merrill downgraded the Company's stock rating from 'Buy' to 'Underperform'.

On July 26th, 2016, Avery Dennison announced preliminary, unaudited results for its Q2 ended on July 2, 2016. For its Pressure-sensitive Materials segment, the company reported that sales increased approximately 3%; on an organic basis, sales grew approximately 5%. Operating margin improved 130 basis points to 13%. For the Retail Branding and Information Solutions unit, the company reported that sales decreased 2%; on an organic basis, sales grew approximately 2%. Operating margin increased by nearly five points to 7.5%, largely due to the benefit of lower restructuring charges. The company repurchased 0.9 million shares in Q2 2016 at an aggregate cost of $64 million. Get free access to your technical report on AVY at:


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