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

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

Separately, Zacks Investment Research lowered Bassett Furniture Industries from a “hold” rating to a “sell” rating in a report on Monday, July 1st.

NASDAQ BSET traded up $1.20 on Wednesday, reaching $14.45. 69,567 shares of the stock traded hands, compared to its average volume of 34,464. Bassett Furniture Industries has a 12 month low of $11.64 and a 12 month high of $22.70. The company has a market cap of $135.74 million, a price-to-earnings ratio of 14.90, a P/E/G ratio of 1.47 and a beta of 0.80. The firm’s fifty day simple moving average is $12.51 and its 200 day simple moving average is $15.24.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings data on Tuesday, July 2nd. The company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.24). The firm had revenue of $108.19 million during the quarter, compared to the consensus estimate of $115.39 million. Bassett Furniture Industries had a return on equity of 3.39% and a net margin of 1.29%. Research analysts predict that Bassett Furniture Industries will post 0.56 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Panagora Asset Management Inc. bought a new stake in shares of Bassett Furniture Industries in the 2nd quarter worth approximately $28,000. BNP Paribas Arbitrage SA grew its position in Bassett Furniture Industries by 249.8% in the first quarter. BNP Paribas Arbitrage SA now owns 2,113 shares of the company’s stock worth $35,000 after buying an additional 1,509 shares during the last quarter. Spark Investment Management LLC acquired a new position in Bassett Furniture Industries in the first quarter worth approximately $244,000. Russell Investments Group Ltd. grew its position in Bassett Furniture Industries by 14.0% in the second quarter. Russell Investments Group Ltd. now owns 21,474 shares of the company’s stock worth $327,000 after buying an additional 2,643 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Bassett Furniture Industries by 14.9% in the fourth quarter. Bank of America Corp DE now owns 19,472 shares of the company’s stock valued at $390,000 after buying an additional 2,519 shares in the last quarter. 70.39% of the stock is currently owned by institutional investors.

Bassett Furniture Industries Company Profile

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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