Bassett Furniture Industries (NASDAQ:BSET) Upgraded by Zacks Research to Strong-Buy Rating

Key Points

• Zacks Research upgraded Bassett Furniture Industries (NASDAQ:BSET) from hold to strong-buy, adding to a generally bullish analyst backdrop. The stock now has two Strong Buy ratings, one Hold, and a consensus rating of Buy.
• The shares were trading up 5.3% and opened at $20.07, near their 12-month high of $20.99. Bassett also reported better-than-expected quarterly results, with EPS of $0.24 versus the $0.20 estimate and revenue of $83.75 million versus $83.32 million expected.
• Recent news flow has been positive, including higher earnings estimates from Sidoti, Zacks calling Bassett a “Bull of the Day,” and a technical golden cross signal. Institutional ownership remains significant, with hedge funds and other investors holding about 54.4% of the stock.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

BSET has been the subject of several other reports. Wall Street Zen upgraded shares of Bassett Furniture Industries from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. Weiss Ratings raised Bassett Furniture Industries from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy".

Bassett Furniture Industries Trading Up 5.3%

Shares of Bassett Furniture Industries stock opened at $20.07 on Tuesday. Bassett Furniture Industries has a 12-month low of $13.17 and a 12-month high of $20.99. The stock has a market cap of $173.81 million, a PE ratio of 31.36, a price-to-earnings-growth ratio of 1.42 and a beta of 0.76. The company has a 50-day moving average of $15.59 and a two-hundred day moving average of $15.44.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last announced its quarterly earnings results on Wednesday, July 1st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. The business had revenue of $83.75 million for the quarter, compared to analyst estimates of $83.32 million. Bassett Furniture Industries had a return on equity of 3.56% and a net margin of 1.65%.During the same quarter in the previous year, the company earned $0.22 EPS. On average, sell-side analysts forecast that Bassett Furniture Industries will post 0.84 EPS for the current fiscal year.

Institutional Trading of Bassett Furniture Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its stake in shares of Bassett Furniture Industries by 95.3% during the 4th quarter. Russell Investments Group Ltd. now owns 1,504 shares of the company's stock worth $25,000 after purchasing an additional 734 shares during the period. Group One Trading LLC purchased a new position in Bassett Furniture Industries during the second quarter worth about $30,000. Motiv8 Investments LLC acquired a new stake in Bassett Furniture Industries in the 4th quarter worth about $42,000. Nalls Sherbakoff Group LLC purchased a new stake in Bassett Furniture Industries in the 4th quarter valued at about $46,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Bassett Furniture Industries in the 2nd quarter valued at about $68,000. 54.40% of the stock is owned by hedge funds and other institutional investors.

More Bassett Furniture Industries News

Here are the key news stories impacting Bassett Furniture Industries this week:

• Positive Sentiment: Sidoti raised multiple earnings estimates for Bassett Furniture, including FY2026 and FY2027 projections, signaling greater confidence in the company’s profit outlook.
• Positive Sentiment: Zacks highlighted Bassett as a “Bull of the Day,” noting that Memorial Day written sales rose 14% year over year, suggesting demand is holding up despite a weak housing market. Bull of the Day: Bassett Furniture (BSET)
• Positive Sentiment: The stock was added to Zacks’ Rank #1 (Strong Buy) momentum list, which may be reinforcing bullish trading interest. Best Momentum Stock to Buy for July 7th
• Positive Sentiment: Technical analysts pointed to a “golden cross,” where the 50-day moving average moved above the 200-day moving average, a pattern often viewed as a bullish signal. Bassett Furniture (BSET)'s Technical Outlook is Bright After Key Golden Cross
• Neutral Sentiment: Bassett recently beat quarterly EPS and revenue estimates, which supports the positive earnings narrative, but this was already reported earlier and is not the main new catalyst today.

Bassett Furniture Industries Company Profile

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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