Bassett Furniture Industries (NASDAQ:BSET) Raised to Strong-Buy at Zacks Research

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

A number of other research analysts also recently commented on the stock. Weiss Ratings raised shares of Bassett Furniture Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 30th. Wall Street Zen upgraded Bassett Furniture Industries from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

Bassett Furniture Industries Stock Up 5.3%

Shares of BSET opened at $20.07 on Tuesday. The company has a market capitalization of $173.81 million, a price-to-earnings ratio of 31.36, a price-to-earnings-growth ratio of 1.42 and a beta of 0.76. Bassett Furniture Industries has a 52-week low of $13.17 and a 52-week high of $20.99. The stock has a 50 day moving average price of $15.59 and a 200 day moving average price of $15.44.

Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings data on Wednesday, July 1st. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The company had revenue of $83.75 million for the quarter, compared to analysts’ expectations of $83.32 million. Bassett Furniture Industries had a net margin of 1.65% and a return on equity of 3.56%. During the same quarter last year, the company earned $0.22 earnings per share. On average, equities analysts anticipate that Bassett Furniture Industries will post 0.84 EPS for the current fiscal year.

Institutional Trading of Bassett Furniture Industries

A number of large investors have recently bought and sold shares of BSET. Russell Investments Group Ltd. grew its position in Bassett Furniture Industries by 95.3% during the 4th quarter. Russell Investments Group Ltd. now owns 1,504 shares of the company’s stock worth $25,000 after purchasing an additional 734 shares during the last quarter. Group One Trading LLC purchased a new stake in shares of Bassett Furniture Industries in the second quarter valued at about $30,000. Motiv8 Investments LLC purchased a new stake in shares of Bassett Furniture Industries in the fourth quarter valued at about $42,000. Nalls Sherbakoff Group LLC acquired a new stake in shares of Bassett Furniture Industries during the fourth quarter worth about $46,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Bassett Furniture Industries during the second quarter worth about $68,000. Institutional investors and hedge funds own 54.40% of the company’s stock.

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.