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

Bassett Furniture Industries (NASDAQ:BSET) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research firms also recently issued reports on BSET. Weiss Ratings reiterated a “hold (c)” rating on shares of Bassett Furniture Industries in a research note 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 research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Bassett Furniture Industries Stock Up 2.1%

Shares of BSET opened at $14.86 on Monday. The firm has a market cap of $128.54 million, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 1.10 and a beta of 0.77. The company’s fifty day moving average is $14.43 and its 200-day moving average is $15.27. Bassett Furniture Industries has a 12 month low of $13.17 and a 12 month high of $19.75.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC boosted its position in shares of Bassett Furniture Industries by 9.2% in the first quarter. Empowered Funds LLC now owns 42,076 shares of the company’s stock valued at $595,000 after acquiring an additional 3,532 shares during the period. Renaissance Technologies LLC boosted 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 valued at $4,304,000 after purchasing an additional 11,700 shares during the period. Aegis Financial Corp increased its holdings in shares of Bassett Furniture Industries by 5.2% during the 1st quarter. Aegis Financial Corp now owns 526,997 shares of the company’s stock worth $7,457,000 after purchasing an additional 25,878 shares during the period. Hsbc Holdings PLC acquired a new position in shares of Bassett Furniture Industries during the fourth quarter valued at about $465,000. Finally, Nalls Sherbakoff Group LLC acquired a new stake in Bassett Furniture Industries during the fourth quarter worth about $46,000. 54.40% of the stock is owned by institutional investors.

About Bassett Furniture Industries

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.