Bassett Furniture Industries (NASDAQ:BSET) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Bassett Furniture Industries (NASDAQ:BSET) from a buy rating to a strong-buy rating in a report released on Saturday,Wall Street Zen reports.

Several other analysts also recently commented on BSET. Freedom Broker upgraded shares of Bassett Furniture Industries from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 1st. Zacks Research lowered Bassett Furniture Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Finally, Weiss Ratings upgraded shares of Bassett Furniture Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

Bassett Furniture Industries Trading Down 1.4%

NASDAQ BSET opened at $22.50 on Friday. The company has a market capitalization of $194.62 million, a PE ratio of 28.48, a P/E/G ratio of 1.30 and a beta of 0.72. The stock has a 50-day simple moving average of $19.67 and a 200 day simple moving average of $17.07. Bassett Furniture Industries has a 12 month low of $13.17 and a 12 month high of $22.95.

Bassett Furniture Industries (NASDAQ:BSET) last announced its quarterly earnings results on Wednesday, September 30th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.11. The business had revenue of $82.84 million for the quarter, compared to the consensus estimate of $82.77 million. Bassett Furniture Industries had a net margin of 2.02% and a return on equity of 4.36%. As a group, sell-side analysts predict that Bassett Furniture Industries will post 1.09 earnings per share for the current fiscal year.

Bassett Furniture Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, November 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.6%. Bassett Furniture Industries’s dividend payout ratio (DPR) is currently 101.27%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BSET. Aegis Financial Corp grew its holdings in shares of Bassett Furniture Industries by 4.4% during the 2nd quarter. Aegis Financial Corp now owns 550,413 shares of the company’s stock valued at $9,753,000 after purchasing an additional 23,416 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Bassett Furniture Industries by 4.0% in the first 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 last quarter. BlackRock Inc. bought a new stake in shares of Bassett Furniture Industries in the second quarter worth $3,032,000. Bank of New York Mellon Corp bought a new stake in shares of Bassett Furniture Industries in the second quarter worth $1,274,000. Finally, Empowered Funds LLC acquired a new stake in Bassett Furniture Industries in the second quarter valued at $746,000. Institutional investors 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 has a long history in the furniture industry and is known for offering products designed for residential interiors.

Bassett’s product portfolio includes upholstered furniture, casegoods, bedroom furniture, dining furniture, occasional tables, mattresses, lighting, rugs, accessories and outdoor furnishings. The company offers furniture through its Bassett Home Furnishings retail stores, online channels and a wholesale network serving independent furniture retailers and other customers.

The company serves customers primarily in the United States.