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

Bassett Furniture Industries (NASDAQ:BSET) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other brokerages have also recently issued reports on BSET. Zacks Research raised Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Weiss Ratings lowered Bassett Furniture Industries from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. One equities 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.com, Bassett Furniture Industries currently has a consensus rating of “Moderate Buy”.

Bassett Furniture Industries Price Performance

BSET stock opened at $15.65 on Friday. The company has a market capitalization of $135.37 million, a PE ratio of 25.24, a P/E/G ratio of 1.19 and a beta of 0.77. Bassett Furniture Industries has a 12 month low of $13.17 and a 12 month high of $19.75. The firm’s 50-day moving average is $14.66 and its 200 day moving average is $15.28.

Bassett Furniture Industries (NASDAQ:BSET) last issued its earnings results on Wednesday, April 1st. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The company had revenue of $80.34 million during the quarter, compared to the consensus estimate of $84.38 million. Bassett Furniture Industries had a return on equity of 3.48% and a net margin of 1.61%. Sell-side analysts forecast that Bassett Furniture Industries will post 0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Bassett Furniture Industries

Several large investors have recently modified their holdings of BSET. Russell Investments Group Ltd. lifted its position in shares of Bassett Furniture Industries by 95.3% in 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 period. Group One Trading LLC purchased a new position in Bassett Furniture Industries during the second quarter valued at approximately $30,000. Empowered Funds LLC raised its stake in Bassett Furniture Industries by 7.9% in the first quarter. Empowered Funds LLC now owns 28,643 shares of the company’s stock worth $437,000 after buying an additional 2,089 shares in the last quarter. Motiv8 Investments LLC bought a new position in Bassett Furniture Industries in the fourth quarter worth approximately $42,000. Finally, Nalls Sherbakoff Group LLC purchased a new stake in Bassett Furniture Industries during the fourth quarter worth $46,000. Institutional investors 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.