Bassett Furniture Industries (NASDAQ:BSET) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Bassett Furniture Industries (NASDAQ:BSET) from a strong sell rating to a hold rating in a report released on Monday,Zacks.com reports.

Other analysts have also issued reports about the company. Weiss Ratings reissued a “hold (c)” rating on shares of Bassett Furniture Industries in a report on Monday, April 20th. Wall Street Zen downgraded Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research note on Sunday, May 31st. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Bassett Furniture Industries Stock Up 2.1%

Shares of Bassett Furniture Industries stock opened at $14.86 on Monday. The firm has a market cap of $128.54 million, a P/E ratio of 23.97, a P/E/G ratio of 1.10 and a beta of 0.77. Bassett Furniture Industries has a fifty-two week low of $13.17 and a fifty-two week high of $19.75. The business has a 50-day moving average price of $14.43 and a 200 day moving average price of $15.27.

Bassett Furniture Industries (NASDAQ:BSET) last announced its quarterly earnings data on Wednesday, April 1st. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). The firm had revenue of $80.34 million during the quarter, compared to the consensus estimate of $84.38 million. Bassett Furniture Industries had a net margin of 1.61% and a return on equity of 3.48%. As a group, equities research analysts anticipate that Bassett Furniture Industries will post 0.82 earnings per share for the current year.

Hedge Funds Weigh In On Bassett Furniture Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC grew its holdings in Bassett Furniture Industries by 9.2% in the 1st quarter. Empowered Funds LLC now owns 42,076 shares of the company’s stock worth $595,000 after buying an additional 3,532 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Bassett Furniture Industries by 4.0% in the 1st quarter. Renaissance Technologies LLC now owns 304,161 shares of the company’s stock worth $4,304,000 after buying an additional 11,700 shares in the last quarter. Aegis Financial Corp grew its holdings in Bassett Furniture Industries by 5.2% in the 1st quarter. Aegis Financial Corp now owns 526,997 shares of the company’s stock worth $7,457,000 after buying an additional 25,878 shares in the last quarter. Hsbc Holdings PLC bought a new position in Bassett Furniture Industries in the 4th quarter worth approximately $465,000. Finally, Nalls Sherbakoff Group LLC bought a new position in Bassett Furniture Industries in the 4th quarter worth approximately $46,000. 54.40% of the stock is owned by institutional investors.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Inc (NASDAQ: BSET), headquartered in Bassett, Virginia, is a vertically integrated manufacturer and retailer of residential home furnishings. The company designs, produces and markets a range of furniture items, including upholstered seating, wood case goods, bedroom collections, dining room sets and home décor accessories. Bassett is known for its emphasis on craftsmanship, offering both ready-to-assemble pieces and made-to-order products that cater to varying design preferences and space requirements.

Bassett’s products are sold through a dual-channel distribution network comprising company-owned Bassett Home Furnishings stores, a franchise and independent dealer network, and an e-commerce platform that provides online shopping, virtual design consultations and customization tools.