Bassett Furniture Industries (NASDAQ:BSET) Upgraded to Strong-Buy at Wall Street Zen

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

Bassett Furniture Industries Trading Down 0.9%

Bassett Furniture Industries stock traded down $0.18 during midday trading on Friday, reaching $18.54. The company's stock had a trading volume of 40,298 shares, compared to its average volume of 24,094. The business has a 50-day moving average price of $16.45 and a 200-day moving average price of $15.76. The stock has a market cap of $161.07 million, a PE ratio of 63.81, a price-to-earnings-growth ratio of 1.20 and a beta of 1.19. Bassett Furniture Industries has a 52 week low of $12.11 and a 52 week high of $19.75.

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 business had revenue of $84,348 billion during the quarter, compared to the consensus estimate of $82.03 million. During the same quarter last year, the company earned ($0.19) EPS. As a group, research analysts predict that Bassett Furniture Industries will post 0.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Bassett Furniture Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BSET. Empowered Funds LLC raised its stake in shares of Bassett Furniture Industries by 7.9% during the 1st quarter. Empowered Funds LLC now owns 28,643 shares of the company's stock valued at $437,000 after buying an additional 2,089 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Bassett Furniture Industries by 0.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 571,777 shares of the company's stock worth $8,720,000 after purchasing an additional 2,200 shares during the last quarter. Aristides Capital LLC boosted its holdings in shares of Bassett Furniture Industries by 16.0% during the 4th quarter. Aristides Capital LLC now owns 43,111 shares of the company's stock worth $596,000 after purchasing an additional 5,935 shares during the last quarter. Jane Street Group LLC raised its position in shares of Bassett Furniture Industries by 87.9% during the 1st quarter. Jane Street Group LLC now owns 21,454 shares of the company's stock valued at $327,000 after buying an additional 10,037 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Bassett Furniture Industries by 97.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 24,840 shares of the company's stock valued at $379,000 after buying an additional 12,258 shares during the period. 54.40% of the stock is currently owned by hedge funds and other institutional investors.

Bassett Furniture Industries Company Profile

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.