Bassett Furniture Industries (NASDAQ:BSET) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Bassett Furniture Industries to “strong-buy” from “buy,” while other firms also issued mixed revisions. MarketBeat’s current analyst consensus is “Buy.”
• Bassett opened at $22.50, near its 12-month high of $22.95, with a market capitalization of approximately $194.6 million. Its 50-day and 200-day moving averages were $19.67 and $17.07, respectively.
• The company reported quarterly EPS of $0.24, beating the $0.13 consensus estimate, while revenue of $82.84 million was roughly in line with expectations. Institutional investors and hedge funds own 54.4% of the stock.

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

Several other research firms also recently commented on BSET. Weiss Ratings upgraded Bassett Furniture Industries from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday. Freedom Broker raised Bassett Furniture Industries from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 1st. Finally, Zacks Research cut Bassett Furniture Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 7th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Bassett Furniture Industries currently has a consensus rating of "Buy".

Bassett Furniture Industries Stock Down 1.4%

NASDAQ:BSET opened at $22.50 on Friday. The firm has a market capitalization of $194.62 million, a PE ratio of 27.17, a price-to-earnings-growth ratio of 1.31 and a beta of 0.72. Bassett Furniture Industries has a 12-month low of $13.17 and a 12-month high of $22.95. The firm has a 50-day moving average price of $19.67 and a 200 day moving average price of $17.07.

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 for the quarter, beating analysts' consensus estimates of $0.13 by $0.11. Bassett Furniture Industries had a return on equity of 4.36% and a net margin of 2.02%. The company had revenue of $82.84 million for the quarter, compared to the consensus estimate of $82.77 million. On average, research analysts expect that Bassett Furniture Industries will post 1.09 EPS for the current year.

Hedge Funds Weigh In On Bassett Furniture Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BSET. BlackRock Inc. bought a new position in shares of Bassett Furniture Industries in the second quarter valued at approximately $3,032,000. Bank of New York Mellon Corp bought a new stake in Bassett Furniture Industries during the 2nd quarter worth approximately $1,274,000. Empowered Funds LLC bought a new stake in Bassett Furniture Industries during the 2nd quarter worth approximately $746,000. Hsbc Holdings PLC bought a new stake in Bassett Furniture Industries during the 4th quarter worth approximately $465,000. Finally, Aegis Financial Corp increased its holdings in Bassett Furniture Industries by 5.2% during the 1st quarter. Aegis Financial Corp now owns 526,997 shares of the company's stock valued at $7,457,000 after purchasing an additional 25,878 shares in the last quarter. 54.40% of the stock is currently owned by institutional investors and hedge funds.

About Bassett Furniture Industries

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.

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