Bassett Furniture Industries (NASDAQ:BSET) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Bassett Furniture Industries from “hold” to “buy,” while the broader analyst consensus remains “Moderate Buy,” with one Strong Buy and two Hold ratings.
• Bassett reported quarterly EPS of $0.24, beating the $0.13 consensus estimate, while revenue of $82.84 million was roughly in line with expectations.
• The stock opened at $20.72, near its 52-week high of $22.26, and institutional investors own 54.4% of outstanding shares.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday, Wall Street Zen reports.

Several other research analysts have also issued reports on BSET. Zacks Research lowered Bassett Furniture Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 7th. Weiss Ratings upgraded shares of Bassett Furniture Industries from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy".

Bassett Furniture Industries Price Performance

NASDAQ:BSET opened at $20.72 on Friday. The stock's 50 day simple moving average is $18.78 and its two-hundred day simple moving average is $16.89. Bassett Furniture Industries has a 1 year low of $13.17 and a 1 year high of $22.26. The company has a market cap of $179.39 million, a price-to-earnings ratio of 26.23, a PEG ratio of 1.38 and a beta of 0.72.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last released its quarterly earnings data on Wednesday, September 30th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.13 by $0.11. The business had revenue of $82.84 million during the quarter, compared to analyst estimates of $82.77 million. Bassett Furniture Industries had a net margin of 2.02% and a return on equity of 4.36%. As a group, analysts anticipate that Bassett Furniture Industries will post 0.87 EPS for the current year.

Institutional Trading of Bassett Furniture Industries

A number of hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new stake in shares of Bassett Furniture Industries during the 2nd quarter worth about $59,000. Aegis Financial Corp lifted its stake in shares of Bassett Furniture Industries by 4.4% in the second quarter. Aegis Financial Corp now owns 550,413 shares of the company's stock worth $9,753,000 after buying an additional 23,416 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Bassett Furniture Industries during the 2nd quarter worth approximately $746,000. Bank of America Corp DE acquired a new position in Bassett Furniture Industries during the second quarter worth $246,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Bassett Furniture Industries in the second quarter valued at about $485,000. 54.40% of the stock is owned by hedge funds and other institutional investors.

About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated is a home furnishings company headquartered in Bassett, Virginia. Founded in 1902, the company built its heritage in wooden furniture and has expanded into a broader range of residential furnishings.

Bassett designs, manufactures, sources and sells products including upholstered furniture, bedroom and dining furniture, occasional tables, home office furnishings, mattresses, rugs, lighting and decorative accessories. Its offerings are marketed under the Bassett brand, with an emphasis on coordinated room collections, customization and design services.

The company serves consumers primarily in the United States through company-owned and licensed Bassett Home Furnishings stores, its website and other retail channels.

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