Zacks Investment Research downgraded shares of Bassett Furniture Industries Inc. (NASDAQ:BSET) from a hold rating to a sell rating in a research report report published on Monday.

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. “

Bassett Furniture Industries (NASDAQ:BSET) opened at 23.20 on Monday. Bassett Furniture Industries has a 12 month low of $22.42 and a 12 month high of $33.68. The company has a market cap of $250.58 million, a price-to-earnings ratio of 15.36 and a beta of 1.04. The company has a 50-day moving average of $24.78 and a 200-day moving average of $27.43.

Bassett Furniture Industries (NASDAQ:BSET) last announced its quarterly earnings data on Thursday, September 29th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by $0.01. The company earned $104.70 million during the quarter. Bassett Furniture Industries had a return on equity of 9.42% and a net margin of 3.80%. The company’s revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 EPS. Analysts predict that Bassett Furniture Industries will post $1.45 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of BSET. Suntrust Banks Inc. boosted its position in shares of Bassett Furniture Industries by 0.5% in the second quarter. Suntrust Banks Inc. now owns 20,454 shares of the company’s stock valued at $489,000 after buying an additional 98 shares during the period. Allianz Asset Management AG boosted its position in shares of Bassett Furniture Industries by 3.0% in the second quarter. Allianz Asset Management AG now owns 14,887 shares of the company’s stock valued at $356,000 after buying an additional 438 shares during the period. Teachers Advisors Inc. boosted its position in shares of Bassett Furniture Industries by 4.9% in the second quarter. Teachers Advisors Inc. now owns 18,527 shares of the company’s stock valued at $444,000 after buying an additional 872 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Bassett Furniture Industries by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 115,544 shares of the company’s stock valued at $2,766,000 after buying an additional 914 shares during the period. Finally, KBC Group NV boosted its position in shares of Bassett Furniture Industries by 16.5% in the second quarter. KBC Group NV now owns 10,945 shares of the company’s stock valued at $262,000 after buying an additional 1,553 shares during the period. 71.64% of the stock is owned by hedge funds and other institutional investors.

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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