Bassett Furniture Industries (NASDAQ:BSET) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Bassett Furniture Industries (NASDAQ:BSET) from a hold rating to a buy rating in a research report report published on Saturday morning,Wall Street Zen reports.

Several other research analysts also recently commented on BSET. Zacks Research downgraded shares of Bassett Furniture Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Weiss Ratings upgraded shares of Bassett Furniture Industries from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Bassett Furniture Industries currently has an average rating of “Buy”.

Bassett Furniture Industries Stock Up 1.1%

Shares of Bassett Furniture Industries stock opened at $20.94 on Friday. Bassett Furniture Industries has a 12-month low of $13.17 and a 12-month high of $22.26. The stock has a 50 day moving average price of $18.81 and a two-hundred day moving average price of $16.96. The stock has a market capitalization of $181.15 million, a P/E ratio of 26.51, a PEG ratio of 1.39 and a beta of 0.72.

Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings results on Wednesday, September 30th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.11. The company 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%. Sell-side analysts anticipate that Bassett Furniture Industries will post 0.93 earnings per share for the current year.

Bassett Furniture Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, August 14th. Bassett Furniture Industries’s dividend payout ratio is currently 101.27%.

Institutional Investors Weigh In On Bassett Furniture Industries

Several hedge funds and other institutional investors have recently modified their holdings of BSET. Motiv8 Investments LLC bought a new position in Bassett Furniture Industries during the fourth quarter worth $42,000. Nalls Sherbakoff Group LLC acquired a new stake in Bassett Furniture Industries in the 4th quarter worth $46,000. Integrated Wealth Concepts LLC acquired a new stake in Bassett Furniture Industries in the 2nd quarter worth $59,000. Empowered Funds LLC increased its holdings in shares of Bassett Furniture Industries by 9.2% during the 1st quarter. Empowered Funds LLC now owns 42,076 shares of the company’s stock worth $595,000 after purchasing an additional 3,532 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Bassett Furniture Industries by 4.0% during the 1st quarter. Renaissance Technologies LLC now owns 304,161 shares of the company’s stock worth $4,304,000 after purchasing an additional 11,700 shares during the period. 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 designs, manufactures, sources and markets furniture and related products for residential customers.

Bassett’s product offerings include upholstered furniture, bedroom and dining furniture, occasional tables, home office products, mattresses, outdoor furniture and home accessories. The company is known for customizable furniture programs that allow customers to select upholstery fabrics, finishes and configurations.

The company sells its products through a network of Bassett Home Furnishings retail stores, its e-commerce operations and independent furniture retailers.