Bassett Furniture Industries (NASDAQ:BSET) Rating Lowered to Sell at Wall Street Zen

Bassett Furniture Industries (NASDAQ:BSET) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

BSET has been the subject of several other reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bassett Furniture Industries in a research report on Monday, April 20th. Zacks Research lowered Bassett Furniture Industries from a “hold” rating to a “strong sell” rating in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Bassett Furniture Industries Stock Up 0.9%

NASDAQ BSET opened at $14.96 on Friday. Bassett Furniture Industries has a twelve month low of $13.17 and a twelve month high of $19.75. The company has a market cap of $129.40 million, a price-to-earnings ratio of 24.13, a price-to-earnings-growth ratio of 1.13 and a beta of 0.77. The business’s fifty day moving average is $14.41 and its 200 day moving average is $15.27.

Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings data on Wednesday, April 1st. The company reported $0.13 earnings per share 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 firm had revenue of $80.34 million for the quarter, compared to analyst estimates of $84.38 million. On average, research analysts anticipate that Bassett Furniture Industries will post 0.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bassett Furniture Industries

Institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its position in shares of Bassett Furniture Industries by 95.3% during the 4th quarter. Russell Investments Group Ltd. now owns 1,504 shares of the company’s stock valued at $25,000 after purchasing an additional 734 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Bassett Furniture Industries during the 3rd quarter valued at about $29,000. Group One Trading LLC bought a new position in shares of Bassett Furniture Industries during the 2nd quarter worth approximately $30,000. Motiv8 Investments LLC acquired a new stake in shares of Bassett Furniture Industries during the 4th quarter worth approximately $42,000. Finally, Nalls Sherbakoff Group LLC acquired a new stake in shares of Bassett Furniture Industries during the 4th quarter worth approximately $46,000. Institutional investors 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.