Bassett Furniture Industries (NASDAQ:BSET – Get Free Report) was upgraded by equities research analysts at Freedom Broker from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday, Zacks reports.
Several other equities analysts also recently issued reports on the company. Zacks Research downgraded Bassett Furniture Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Wall Street Zen upgraded Bassett Furniture Industries from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings upgraded Bassett Furniture Industries from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy”.
View Our Latest Research Report on Bassett Furniture Industries
Bassett Furniture Industries Stock Up 8.7%
Bassett Furniture Industries (NASDAQ:BSET – Get Free Report) last issued its quarterly earnings results on Wednesday, September 30th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.11. The business had revenue of $82.84 million for the quarter, compared to analyst estimates of $82.77 million. Bassett Furniture Industries had a net margin of 2.02% and a return on equity of 4.36%. As a group, research analysts anticipate that Bassett Furniture Industries will post 0.87 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Bassett Furniture Industries
A number of large investors have recently bought and sold shares of BSET. Motiv8 Investments LLC acquired a new stake in Bassett Furniture Industries in the fourth quarter valued at approximately $42,000. Nalls Sherbakoff Group LLC purchased a new stake in shares of Bassett Furniture Industries in the fourth quarter valued at approximately $46,000. Integrated Wealth Concepts LLC acquired a new position in shares of Bassett Furniture Industries during the 2nd quarter worth approximately $59,000. Bank of America Corp DE acquired a new position in shares of Bassett Furniture Industries during the 2nd quarter worth approximately $246,000. Finally, Marquette Asset Management LLC purchased a new position in shares of Bassett Furniture Industries during the 2nd quarter valued at approximately $300,000. Institutional investors and hedge funds own 54.40% of the company’s stock.
About Bassett Furniture Industries
Bassett Furniture Industries, Incorporated is a home furnishings company headquartered in Bassett, Virginia. Founded in 1902, the company built its heritage in wooden furniture and has expanded into a broader range of residential furnishings.
Bassett designs, manufactures, sources and sells products including upholstered furniture, bedroom and dining furniture, occasional tables, home office furnishings, mattresses, rugs, lighting and decorative accessories. Its offerings are marketed under the Bassett brand, with an emphasis on coordinated room collections, customization and design services.
The company serves consumers primarily in the United States through company-owned and licensed Bassett Home Furnishings stores, its website and other retail channels.
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