Zacks: Analysts Set $37.00 Price Target for Bassett Furniture Industries Inc. (BSET)

Bassett Furniture Industries Inc. (NASDAQ:BSET) has earned a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.

Brokers have set a 1-year consensus price target of $37.00 for the company and are expecting that the company will post $0.41 EPS for the current quarter, according to Zacks. Zacks has also assigned Bassett Furniture Industries an industry rank of 64 out of 265 based on the ratings given to its competitors.

BSET has been the topic of several research reports. ValuEngine downgraded shares of Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. BidaskClub downgraded shares of Bassett Furniture Industries from a “sell” rating to a “strong sell” rating in a research note on Saturday, January 6th. Zacks Investment Research raised shares of Bassett Furniture Industries from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Thursday, December 28th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $39.00 target price (up from $36.00) on shares of Bassett Furniture Industries in a research note on Saturday, September 30th.

Bassett Furniture Industries (BSET) traded up $1.65 during mid-day trading on Friday, hitting $37.20. 73,895 shares of the company’s stock traded hands, compared to its average volume of 36,757. The stock has a market capitalization of $399.57, a P/E ratio of 21.88 and a beta of 1.05. Bassett Furniture Industries has a 52-week low of $24.90 and a 52-week high of $41.30.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings results on Friday, January 19th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.06). The business had revenue of $118.23 million for the quarter, compared to analysts’ expectations of $118.22 million. Bassett Furniture Industries had a return on equity of 9.06% and a net margin of 4.03%. During the same period last year, the business posted $0.47 earnings per share. analysts expect that Bassett Furniture Industries will post 1.98 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, February 8th. Bassett Furniture Industries’s payout ratio is 25.88%.

In related news, insider Jay R. Hervey sold 650 shares of Bassett Furniture Industries stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $39.19, for a total value of $25,473.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 6.40% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of BSET. Rhumbline Advisers increased its stake in shares of Bassett Furniture Industries by 4.6% in the second quarter. Rhumbline Advisers now owns 12,087 shares of the company’s stock worth $459,000 after buying an additional 530 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Bassett Furniture Industries by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 118,854 shares of the company’s stock worth $4,511,000 after buying an additional 2,181 shares during the period. LSV Asset Management boosted its holdings in Bassett Furniture Industries by 102.2% in the second quarter. LSV Asset Management now owns 8,900 shares of the company’s stock valued at $337,000 after acquiring an additional 4,499 shares in the last quarter. Alliancebernstein L.P. bought a new stake in Bassett Furniture Industries in the second quarter valued at $224,000. Finally, Northern Trust Corp boosted its holdings in Bassett Furniture Industries by 0.3% in the second quarter. Northern Trust Corp now owns 124,123 shares of the company’s stock valued at $4,711,000 after acquiring an additional 341 shares in the last quarter. 71.83% of the stock is currently owned by institutional investors.

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About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated is a manufacturer, importer and retailer of home furnishings. The Company’s segments include Wholesale, Retail – Company-owned stores and Logistical services. Its wholesale home furnishings segment is involved in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (licensee-owned stores and Company-owned stores) and independent furniture retailers.

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