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

Key Points

• Wall Street Zen downgraded Bassett Furniture (NASDAQ:BSET) from a "hold" to a "sell", joining Zacks Research's move to "strong sell" while MarketBeat still shows a consensus rating of "Hold".
• The company missed quarterly expectations, reporting $0.13 EPS versus $0.17 expected and $80.34M revenue versus $84.38M expected, with low profitability (ROE 3.48%, net margin 1.61%) and sell-side forecasts of about $0.75 EPS for the year.
• Shares opened at $14.01 (down ~3.8%), trade near their 50-/200-day SMAs ($14.76/$15.47) with a market cap of $121.1M and a P/E of 22.6, and roughly 54.4% of the stock is held by institutional investors amid recent stake increases by firms like Deutsche Bank.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

A number of other analysts have also recently weighed in on the company. Zacks Research cut Bassett Furniture Industries from a "hold" rating to a "strong sell" rating in a research report on Friday, February 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Bassett Furniture Industries in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Bassett Furniture Industries has a consensus rating of "Hold".

Bassett Furniture Industries Trading Down 3.8%

Shares of Bassett Furniture Industries stock opened at $14.01 on Friday. The business's 50 day simple moving average is $14.76 and its 200-day simple moving average is $15.47. The stock has a market capitalization of $121.14 million, a price-to-earnings ratio of 22.60, a PEG ratio of 1.10 and a beta of 0.95. Bassett Furniture Industries has a twelve month low of $13.17 and a twelve month high of $19.75.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last announced its quarterly earnings results on Wednesday, April 1st. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.04). The company had revenue of $80.34 million for the quarter, compared to analyst estimates of $84.38 million. Bassett Furniture Industries had a return on equity of 3.48% and a net margin of 1.61%. Sell-side analysts predict that Bassett Furniture Industries will post 0.75 earnings per share for the current year.

Institutional Trading of Bassett Furniture Industries

Large investors have recently added to or reduced their stakes in the business. Deutsche Bank AG increased its position in Bassett Furniture Industries by 386.6% in the 4th quarter. Deutsche Bank AG now owns 6,783 shares of the company's stock valued at $114,000 after acquiring an additional 5,389 shares during the period. New York State Common Retirement Fund acquired a new stake in Bassett Furniture Industries in the 2nd quarter valued at approximately $106,000. JPMorgan Chase & Co. acquired a new stake in Bassett Furniture Industries in the 2nd quarter valued at approximately $83,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Bassett Furniture Industries in the 2nd quarter valued at approximately $68,000. Finally, Russell Investments Group Ltd. increased its position in Bassett Furniture Industries by 95.3% in the 4th quarter. Russell Investments Group Ltd. now owns 1,504 shares of the company's stock valued at $25,000 after acquiring an additional 734 shares during the period. 54.40% of the stock is currently owned by institutional investors and hedge funds.

About Bassett Furniture Industries

Bassett Furniture Industries, Inc NASDAQ: BSET, headquartered in Bassett, Virginia, is a vertically integrated manufacturer and retailer of residential home furnishings. The company designs, produces and markets a range of furniture items, including upholstered seating, wood case goods, bedroom collections, dining room sets and home décor accessories. Bassett is known for its emphasis on craftsmanship, offering both ready-to-assemble pieces and made-to-order products that cater to varying design preferences and space requirements.

Bassett's products are sold through a dual-channel distribution network comprising company-owned Bassett Home Furnishings stores, a franchise and independent dealer network, and an e-commerce platform that provides online shopping, virtual design consultations and customization tools.

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