Bassett Furniture Industries (NASDAQ:BSET) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Bassett Furniture Industries, Inc. is a leading manufacturer and marketer of high quality, mid-priced home furnishings. With over one hundred and thirty Bassett Furniture Direct stores, Bassett has leveraged its brand name in furniture with a network of licensed and Company-owned stores that focus on providing consumers with a friendly and professional environment for buying furniture and accessories. The Company continues to sell its products to other retailers, in addition to the Company’s dedicated retail store program. Bassett’s retail strategy promotes affordable custom-built furniture that is ready for delivery in the home within thirty days. The stores also feature the latest on-trend furniture styles, more than one thousand upholstery fabrics, free in-home design visits, and coordinated decorating accessories. “
Other analysts also recently issued reports about the stock. BidaskClub raised shares of Bassett Furniture Industries from a “strong sell” rating to a “sell” rating in a report on Saturday, February 17th. ValuEngine downgraded shares of Bassett Furniture Industries from a “buy” rating to a “hold” rating in a report on Friday, December 1st.
Bassett Furniture Industries (NASDAQ BSET) traded down $0.55 during midday trading on Tuesday, hitting $33.40. 21,861 shares of the stock were exchanged, compared to its average volume of 43,525. Bassett Furniture Industries has a 52 week low of $24.90 and a 52 week high of $41.30. The company has a market cap of $360.62, a P/E ratio of 19.65 and a beta of 0.87.
Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings data on Friday, January 19th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.06). Bassett Furniture Industries had a return on equity of 9.00% and a net margin of 4.03%. The company had revenue of $118.23 million for the quarter, compared to the consensus estimate of $118.22 million. During the same period in the prior year, the firm posted $0.47 earnings per share. equities research analysts forecast that Bassett Furniture Industries will post 1.72 EPS for the current year.
Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in Bassett Furniture Industries by 441.6% in the third quarter. JPMorgan Chase & Co. now owns 4,620 shares of the company’s stock worth $178,000 after purchasing an additional 3,767 shares during the last quarter. MetLife Investment Advisors LLC bought a new stake in Bassett Furniture Industries in the fourth quarter worth $202,000. Captrust Financial Advisors bought a new stake in Bassett Furniture Industries in the fourth quarter worth $226,000. Alps Advisors Inc. bought a new stake in Bassett Furniture Industries in the fourth quarter worth $227,000. Finally, Russell Investments Group Ltd. lifted its stake in Bassett Furniture Industries by 22.5% in the third quarter. Russell Investments Group Ltd. now owns 7,765 shares of the company’s stock worth $293,000 after purchasing an additional 1,428 shares during the last quarter. 73.11% of the stock is owned by institutional investors and hedge funds.
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Bassett Furniture Industries Company Profile
Bassett Furniture Industries, Incorporated is a manufacturer, importer and retailer of home furnishings. The Company’s segments include Wholesale, Retail – Company-owned stores and Logistical services. Its wholesale home furnishings segment is involved in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (licensee-owned stores and Company-owned stores) and independent furniture retailers.
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