Bassett Furniture Industries (NASDAQ:BSET) Raised to “Hold” at Zacks Research

Bassett Furniture Industries (NASDAQ:BSET) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other research analysts also recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bassett Furniture Industries in a research report on Monday, April 20th. Wall Street Zen downgraded Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research report on Sunday, May 31st. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Bassett Furniture Industries currently has an average rating of “Moderate Buy”.

Bassett Furniture Industries Stock Performance

BSET opened at $14.86 on Monday. The business has a 50 day moving average price of $14.43 and a 200 day moving average price of $15.27. Bassett Furniture Industries has a twelve month low of $13.17 and a twelve month high of $19.75. The firm has a market cap of $128.54 million, a P/E ratio of 23.97, a price-to-earnings-growth ratio of 1.10 and a beta of 0.77.

Bassett Furniture Industries (NASDAQ:BSET) last posted its earnings results 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). The company had revenue of $80.34 million during the quarter, compared to analyst estimates of $84.38 million. Bassett Furniture Industries had a return on equity of 3.48% and a net margin of 1.61%. As a group, analysts anticipate that Bassett Furniture Industries will post 0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC increased its position in Bassett Furniture Industries by 9.2% in the 1st quarter. Empowered Funds LLC now owns 42,076 shares of the company’s stock worth $595,000 after buying an additional 3,532 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Bassett Furniture Industries by 4.0% during the 1st quarter. Renaissance Technologies LLC now owns 304,161 shares of the company’s stock worth $4,304,000 after purchasing an additional 11,700 shares in the last quarter. Aegis Financial Corp grew its holdings in shares of Bassett Furniture Industries by 5.2% during the 1st quarter. Aegis Financial Corp now owns 526,997 shares of the company’s stock worth $7,457,000 after purchasing an additional 25,878 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Bassett Furniture Industries during the 4th quarter worth approximately $465,000. Finally, Nalls Sherbakoff Group LLC acquired a new stake in shares of Bassett Furniture Industries during the 4th quarter worth approximately $46,000. 54.40% of the stock is owned by institutional investors.

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.