Bassett Furniture Industries (NASDAQ:BSET) Rating Increased to Buy at ValuEngine

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Bassett Furniture Industries (NASDAQ:BSET) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

Separately, Zacks Investment Research lowered shares of Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th.

BSET opened at $14.85 on Tuesday. The firm has a market capitalization of $152.26 million, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 1.75 and a beta of 0.71. The stock’s 50 day moving average price is $15.37 and its two-hundred day moving average price is $14.21. Bassett Furniture Industries has a 12-month low of $11.64 and a 12-month high of $21.95.

Bassett Furniture Industries (NASDAQ:BSET) last issued its quarterly earnings results on Thursday, October 3rd. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. Bassett Furniture Industries had a return on equity of 3.00% and a net margin of 1.12%. The company had revenue of $109.42 million during the quarter, compared to analyst estimates of $110.38 million. As a group, equities research analysts expect that Bassett Furniture Industries will post 0.55 EPS for the current year.

Several large investors have recently bought and sold shares of the company. Foundry Partners LLC bought a new stake in shares of Bassett Furniture Industries in the third quarter valued at about $2,851,000. Westhampton Capital LLC acquired a new position in Bassett Furniture Industries in the 2nd quarter valued at approximately $591,000. Renaissance Technologies LLC raised its holdings in Bassett Furniture Industries by 3.2% in the 2nd quarter. Renaissance Technologies LLC now owns 761,300 shares of the company’s stock valued at $11,610,000 after acquiring an additional 23,884 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Bassett Furniture Industries by 2.5% in the 2nd quarter. Gamco Investors INC. ET AL now owns 913,689 shares of the company’s stock worth $13,934,000 after acquiring an additional 22,004 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Bassett Furniture Industries by 49.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 49,846 shares of the company’s stock worth $763,000 after acquiring an additional 16,548 shares during the period. Institutional investors own 69.22% of the company’s stock.

About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail, and Logistical Services. The company engages in the design, manufacture, sourcing, distribution, and sale of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings retail stores, as well as independent furniture retailers; and wood and upholstery operations.

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