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

Bassett Furniture Industries logo with Consumer Discretionary background

Key Points

  • Bassett Furniture Industries has been downgraded from a "strong-buy" rating to a "buy" rating by Wall Street Zen, indicating a shift in analysts' outlook on the stock.
  • The company reported $0.22 earnings per share (EPS) for the most recent quarter, surpassing analysts' expectations of $0.15 and showing an improvement from a loss of ($0.19) EPS the previous year.
  • Insider selling occurred when SVP John E. Bassett III sold 2,000 shares at an average price of $18.56, reducing his stake by 3.79%.
  • Need better tools to track Bassett Furniture Industries? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Wall Street Zen cut shares of Bassett Furniture Industries (NASDAQ:BSET - Free Report) from a strong-buy rating to a buy rating in a report released on Saturday morning.

Bassett Furniture Industries Trading Up 4.0%

BSET stock traded up $0.64 during midday trading on Friday, hitting $16.69. 14,217 shares of the company's stock were exchanged, compared to its average volume of 33,293. Bassett Furniture Industries has a 12-month low of $12.33 and a 12-month high of $19.75. The firm has a 50 day moving average price of $16.53 and a 200-day moving average price of $16.22. The stock has a market capitalization of $144.99 million, a price-to-earnings ratio of 57.53, a price-to-earnings-growth ratio of 1.25 and a beta of 1.15.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last issued its earnings results on Wednesday, July 9th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.15 by $0.07. Bassett Furniture Industries had a return on equity of 1.48% and a net margin of 0.76%. The company had revenue of $84,348 billion during the quarter, compared to analyst estimates of $82.03 million. During the same quarter last year, the firm earned ($0.19) EPS. On average, sell-side analysts forecast that Bassett Furniture Industries will post 0.75 EPS for the current fiscal year.

Bassett Furniture Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, August 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.8%. Bassett Furniture Industries's payout ratio is currently 275.86%.

Insider Buying and Selling at Bassett Furniture Industries

In other Bassett Furniture Industries news, SVP John E. Bassett III sold 2,000 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $18.56, for a total value of $37,120.00. Following the transaction, the senior vice president owned 50,761 shares in the company, valued at $942,124.16. The trade was a 3.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 7.30% of the company's stock.

Institutional Trading of Bassett Furniture Industries

Several large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. acquired a new position in Bassett Furniture Industries in the 2nd quarter valued at approximately $83,000. Jane Street Group LLC bought a new position in Bassett Furniture Industries in the 4th quarter valued at $158,000. Ritholtz Wealth Management bought a new position in Bassett Furniture Industries in the 2nd quarter valued at $235,000. Hillsdale Investment Management Inc. acquired a new position in shares of Bassett Furniture Industries in the 2nd quarter valued at $247,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Bassett Furniture Industries in the 2nd quarter valued at $274,000. Institutional investors own 54.40% of the company's stock.

Bassett Furniture Industries Company Profile

(Get Free Report)

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.

Further Reading

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