Bassett Furniture Industries (NASDAQ:BSET) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research downgraded shares of Bassett Furniture Industries (NASDAQ:BSET) from a hold rating to a strong sell rating in a report issued on Monday,Zacks.com reports.

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

Bassett Furniture Industries Stock Performance

Shares of BSET traded up $0.24 during midday trading on Monday, hitting $15.63. The company had a trading volume of 944 shares, compared to its average volume of 30,722. Bassett Furniture Industries has a 1 year low of $13.58 and a 1 year high of $19.75. The firm has a market capitalization of $135.82 million, a P/E ratio of 17.37, a P/E/G ratio of 0.90 and a beta of 1.06. The company’s 50-day simple moving average is $15.25 and its 200-day simple moving average is $16.08.

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

Bassett Furniture Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.80 dividend on an annualized basis and a yield of 5.1%. Bassett Furniture Industries’s payout ratio is 88.89%.

Hedge Funds Weigh In On Bassett Furniture Industries

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Bassett Furniture Industries by 114.3% in the 2nd quarter. Geode Capital Management LLC now owns 190,182 shares of the company’s stock valued at $2,892,000 after purchasing an additional 101,448 shares during the last quarter. Kestra Private Wealth Services LLC purchased a new position in Bassett Furniture Industries during the 3rd quarter worth approximately $597,000. Squarepoint Ops LLC acquired a new position in Bassett Furniture Industries during the third quarter worth approximately $414,000. Los Angeles Capital Management LLC purchased a new stake in Bassett Furniture Industries in the second quarter valued at approximately $274,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in Bassett Furniture Industries in the second quarter valued at approximately $247,000. Hedge funds and other institutional investors own 54.40% of the company’s stock.

About Bassett Furniture Industries

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.