Bassett Furniture Industries, Incorporated (NASDAQ:BSET) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday. The firm currently has a $44.00 target price on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.97% from the stock’s previous close.

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. “

Separately, Stifel Nicolaus boosted their price target on shares of Bassett Furniture Industries, from $28.00 to $36.00 and gave the company a “hold” rating in a research report on Friday, June 30th.

Bassett Furniture Industries, (NASDAQ BSET) opened at 39.65 on Tuesday. The firm has a market cap of $425.21 million, a P/E ratio of 23.87 and a beta of 1.11. The firm’s 50-day moving average price is $30.45 and its 200-day moving average price is $28.82. Bassett Furniture Industries, has a 12 month low of $22.42 and a 12 month high of $40.25.

Bassett Furniture Industries, (NASDAQ:BSET) last issued its quarterly earnings results on Thursday, June 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.06. Bassett Furniture Industries, had a net margin of 4.08% and a return on equity of 9.05%. The company had revenue of $114.10 million during the quarter, compared to analyst estimates of $110.52 million. During the same quarter last year, the business posted $0.31 EPS. Bassett Furniture Industries,’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts expect that Bassett Furniture Industries, will post $1.65 EPS for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of BSET. Teton Advisors Inc. boosted its position in Bassett Furniture Industries, by 15.3% in the first quarter. Teton Advisors Inc. now owns 179,905 shares of the company’s stock worth $4,839,000 after buying an additional 23,905 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Bassett Furniture Industries, by 2.4% in the first quarter. Bank of New York Mellon Corp now owns 116,673 shares of the company’s stock valued at $3,139,000 after buying an additional 2,751 shares in the last quarter. Algert Global LLC boosted its position in shares of Bassett Furniture Industries, by 9.0% in the first quarter. Algert Global LLC now owns 27,271 shares of the company’s stock valued at $734,000 after buying an additional 2,260 shares in the last quarter. LSV Asset Management boosted its position in shares of Bassett Furniture Industries, by 175.1% in the first quarter. LSV Asset Management now owns 4,401 shares of the company’s stock valued at $118,000 after buying an additional 2,801 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. boosted its position in shares of Bassett Furniture Industries, by 96.6% in the first quarter. Punch & Associates Investment Management Inc. now owns 57,000 shares of the company’s stock valued at $1,533,000 after buying an additional 28,000 shares in the last quarter. 71.35% of the stock is owned by institutional investors and hedge funds.

About Bassett Furniture Industries,

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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