Bassett Furniture Industries (NASDAQ:BSET) Upgraded at Freedom Broker

Key Points

• Freedom Broker upgraded Bassett Furniture Industries from “hold” to “strong-buy.” Other analysts have issued mixed views, but MarketBeat’s consensus rating is “Buy.”
• 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.
• BSET opened at $20.72, near its 12-month high of $22.26, with a market capitalization of approximately $179 million; institutional investors own 54.4% of the shares.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) was upgraded by research analysts at Freedom Broker from a "hold" rating to a "strong-buy" rating in a research note issued on Thursday, Zacks reports.

A number of other brokerages have also weighed in on BSET. Wall Street Zen raised Bassett Furniture Industries from a "hold" rating to a "buy" rating in a research report on Saturday. Zacks Research downgraded Bassett Furniture Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 7th. Finally, Weiss Ratings raised Bassett Furniture Industries from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Bassett Furniture Industries has a consensus rating of "Buy".

Bassett Furniture Industries Price Performance

BSET stock opened at $20.72 on Thursday. Bassett Furniture Industries has a 12 month low of $13.17 and a 12 month high of $22.26. The firm's 50-day moving average is $18.78 and its 200 day moving average is $16.89. The company has a market capitalization of $179.39 million, a PE ratio of 26.23, a P/E/G 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.11. The company had revenue of $82.84 million during the quarter, compared to analysts' expectations of $82.77 million. Bassett Furniture Industries had a net margin of 2.02% and a return on equity of 4.36%. Sell-side analysts forecast that Bassett Furniture Industries will post 0.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Motiv8 Investments LLC purchased a new position in Bassett Furniture Industries in the fourth quarter valued at about $42,000. Nalls Sherbakoff Group LLC bought a new stake in shares of Bassett Furniture Industries in the 4th quarter valued at about $46,000. Integrated Wealth Concepts LLC bought a new stake in shares of Bassett Furniture Industries in the 2nd quarter valued at about $59,000. Bank of America Corp DE purchased a new position in shares of Bassett Furniture Industries in the 2nd quarter worth approximately $246,000. Finally, Marquette Asset Management LLC purchased a new position in shares of Bassett Furniture Industries in the 2nd quarter worth approximately $300,000. 54.40% of the stock is owned by 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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