Bassett Furniture Industries (NASDAQ:BSET) Cut to Hold at Wall Street Zen

Bassett Furniture Industries (NASDAQ:BSET) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Bassett Furniture Industries in a research report on Wednesday, January 21st. Zacks Research upgraded shares of Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 30th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Bassett Furniture Industries has a consensus rating of “Moderate Buy”.

Bassett Furniture Industries Price Performance

NASDAQ BSET opened at $15.76 on Friday. The company has a market cap of $136.95 million, a price-to-earnings ratio of 22.51, a PEG ratio of 0.91 and a beta of 0.99. The stock’s fifty day moving average price is $16.41 and its 200 day moving average price is $16.08. Bassett Furniture Industries has a 1 year low of $13.82 and a 1 year high of $19.75.

Bassett Furniture Industries (NASDAQ:BSET) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.07). The firm had revenue of $88.67 million for the quarter, compared to analyst estimates of $86.90 million. Bassett Furniture Industries had a return on equity of 3.90% and a net margin of 1.82%. Research analysts expect that Bassett Furniture Industries will post 0.75 earnings per share for the current year.

Institutional Investors Weigh In On Bassett Furniture Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of Bassett Furniture Industries by 114.3% during the 2nd quarter. Geode Capital Management LLC now owns 190,182 shares of the company’s stock valued at $2,892,000 after purchasing an additional 101,448 shares in the last quarter. Bridgeway Capital Management LLC grew its position in Bassett Furniture Industries by 4.5% during the third quarter. Bridgeway Capital Management LLC now owns 83,043 shares of the company’s stock valued at $1,299,000 after buying an additional 3,609 shares during the period. Kestra Private Wealth Services LLC purchased a new position in Bassett Furniture Industries in the third quarter valued at $597,000. Empowered Funds LLC increased its holdings in Bassett Furniture Industries by 7.9% in the first quarter. Empowered Funds LLC now owns 28,643 shares of the company’s stock valued at $437,000 after buying an additional 2,089 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Bassett Furniture Industries in the third quarter worth about $414,000. Institutional investors and hedge funds own 54.40% of the company’s stock.

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.