Bassett Furniture Industries (NASDAQ:BSET) Raised to Strong-Buy at Wall Street Zen

Bassett Furniture Industries (NASDAQ:BSET) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday, Wall Street Zen reports.

Several other research analysts have also recently weighed in on the stock. Freedom Broker upgraded shares of Bassett Furniture Industries from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 1st. Zacks Research cut shares of Bassett Furniture Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Finally, Weiss Ratings upgraded Bassett Furniture Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Bassett Furniture Industries has an average rating of “Buy”.

Bassett Furniture Industries Price Performance

Shares of NASDAQ:BSET opened at $22.50 on Friday. The business has a 50 day moving average price of $19.67 and a 200 day moving average price of $17.07. The company has a market cap of $194.65 million, a price-to-earnings ratio of 28.48, a PEG ratio of 1.30 and a beta of 0.72. Bassett Furniture Industries has a twelve month low of $13.17 and a twelve month high of $22.95.

Bassett Furniture Industries (NASDAQ:BSET) last released its earnings results on Wednesday, September 30th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.11. The business had revenue of $82.84 million for the quarter, compared to the consensus estimate of $82.77 million. Bassett Furniture Industries had a return on equity of 4.36% and a net margin of 2.02%. Analysts anticipate that Bassett Furniture Industries will post 1.09 EPS for the current year.

Institutional Investors Weigh In On Bassett Furniture Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of BSET. Integrated Wealth Concepts LLC acquired a new position in shares of Bassett Furniture Industries in the second quarter worth approximately $59,000. Bank of America Corp DE acquired a new position in shares of Bassett Furniture Industries during the second quarter valued at about $246,000. Marquette Asset Management LLC acquired a new position in Bassett Furniture Industries during the 2nd quarter worth approximately $300,000. Westhampton Capital LLC increased its holdings in shares of Bassett Furniture Industries by 11.8% during the third quarter. Westhampton Capital LLC now owns 22,998 shares of the company’s stock valued at $402,000 after acquiring an additional 2,427 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of Bassett Furniture Industries during the second quarter worth approximately $485,000. Institutional investors own 54.40% of the company’s stock.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Incorporated is a home furnishings company headquartered in Bassett, Virginia. Founded in 1902, the company has a long history in the furniture industry and is known for offering products designed for residential interiors.

Bassett’s product portfolio includes upholstered furniture, casegoods, bedroom furniture, dining furniture, occasional tables, mattresses, lighting, rugs, accessories and outdoor furnishings. The company offers furniture through its Bassett Home Furnishings retail stores, online channels and a wholesale network serving independent furniture retailers and other customers.

The company serves customers primarily in the United States.