Bassett Furniture Industries (NASDAQ:BSET) Rating Lowered to Strong Sell at Zacks Research

Bassett Furniture Industries (NASDAQ:BSET) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

Several other analysts have also recently weighed in on the stock. Sidoti upgraded shares of Bassett Furniture Industries to a “strong-buy” rating in a research note on Thursday, October 9th. Wall Street Zen upgraded Bassett Furniture Industries from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Bassett Furniture Industries in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bassett Furniture Industries has a consensus rating of “Hold”.

Bassett Furniture Industries Trading Down 1.5%

Shares of NASDAQ BSET opened at $15.39 on Monday. The firm has a market cap of $133.74 million, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 0.90 and a beta of 1.06. The business’s 50 day moving average is $15.25 and its 200-day moving average is $16.08. Bassett Furniture Industries has a 1-year low of $13.58 and a 1-year high of $19.75.

Bassett Furniture Industries (NASDAQ:BSET) last issued its quarterly earnings data on Wednesday, October 8th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. Bassett Furniture Industries had a return on equity of 4.67% and a net margin of 2.35%.The firm had revenue of $80.10 million for the quarter, compared to analyst estimates of $79.89 million. During the same period in the prior year, the firm posted ($0.52) EPS. Analysts forecast that Bassett Furniture Industries will post 0.75 EPS for the current year.

Institutional Trading of Bassett Furniture Industries

Hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its holdings in shares of Bassett Furniture Industries by 97.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 24,840 shares of the company’s stock valued at $379,000 after acquiring an additional 12,258 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Bassett Furniture Industries in the second quarter valued at $274,000. Ritholtz Wealth Management bought a new position in Bassett Furniture Industries during the 2nd quarter worth $235,000. Hillsdale Investment Management Inc. bought a new position in Bassett Furniture Industries during the 2nd quarter worth $247,000. Finally, Gamco Investors INC. ET AL lifted its holdings in Bassett Furniture Industries by 0.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 571,777 shares of the company’s stock worth $8,720,000 after buying an additional 2,200 shares during the period. Institutional investors and hedge funds own 54.40% of the company’s stock.

About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.