Bassett Furniture Industries (NASDAQ:BSET) Stock Rating Lowered by Zacks Research

Bassett Furniture Industries (NASDAQ:BSET) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

BSET has been the topic of a number of other research reports. Sidoti upgraded Bassett Furniture Industries to a “strong-buy” rating in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bassett Furniture Industries in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Bassett Furniture Industries from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Bassett Furniture Industries currently has a consensus rating of “Hold”.

Bassett Furniture Industries Stock Performance

NASDAQ BSET traded up $0.36 during mid-day trading on Monday, reaching $15.75. 1,290 shares of the stock were exchanged, compared to its average volume of 30,725. The company has a market capitalization of $136.90 million, a P/E ratio of 17.37, a P/E/G ratio of 0.90 and a beta of 1.06. The business’s 50 day moving average is $15.25 and its 200-day moving average is $16.08. Bassett Furniture Industries has a 1 year low of $13.58 and a 1 year high of $19.75.

Bassett Furniture Industries (NASDAQ:BSET) last posted its earnings results on Wednesday, October 8th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Bassett Furniture Industries had a net margin of 2.35% and a return on equity of 4.67%. The business had revenue of $80.10 million for the quarter, compared to analyst estimates of $79.89 million. During the same period in the prior year, the company posted ($0.52) EPS. Equities analysts predict that Bassett Furniture Industries will post 0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bassett Furniture Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atlantic Union Bankshares Corp acquired a new stake in Bassett Furniture Industries in the 3rd quarter valued at approximately $29,000. Group One Trading LLC acquired a new stake in shares of Bassett Furniture Industries during the second quarter worth about $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Bassett Furniture Industries in the second quarter valued at approximately $68,000. JPMorgan Chase & Co. acquired a new position in shares of Bassett Furniture Industries in the second quarter valued at approximately $83,000. Finally, New York State Common Retirement Fund acquired a new stake in Bassett Furniture Industries during the 2nd quarter worth approximately $106,000. Hedge funds and other institutional investors own 54.40% of the company’s stock.

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.