Bassett Furniture Industries (NASDAQ:BSET) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of Bassett Furniture Industries (NASDAQ:BSET) from a buy rating to a hold rating in a research note released on Saturday morning.

A number of other research firms have also recently weighed in on BSET. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bassett Furniture Industries in a research report on Wednesday, January 21st. Zacks Research raised shares of Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Bassett Furniture Industries presently has a consensus rating of “Moderate Buy”.

Bassett Furniture Industries Price Performance

Shares of BSET stock opened at $15.76 on Friday. Bassett Furniture Industries has a 1 year low of $13.82 and a 1 year high of $19.75. The firm has a fifty day moving average price of $16.41 and a 200-day moving average price of $16.06. The company has a market cap of $136.95 million, a price-to-earnings ratio of 22.51, a PEG ratio of 0.90 and a beta of 0.99.

Bassett Furniture Industries (NASDAQ:BSET) last announced its earnings results on Wednesday, February 4th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.07). Bassett Furniture Industries had a return on equity of 3.90% and a net margin of 1.82%.The company had revenue of $88.67 million during the quarter, compared to the consensus estimate of $86.90 million. Equities research analysts expect that Bassett Furniture Industries will post 0.75 EPS for the current year.

Bassett Furniture Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 5.1%. The ex-dividend date is Friday, February 13th. Bassett Furniture Industries’s dividend payout ratio is presently 88.89%.

Hedge Funds Weigh In On Bassett Furniture Industries

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

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Inc (NASDAQ: BSET), headquartered in Bassett, Virginia, is a vertically integrated manufacturer and retailer of residential home furnishings. The company designs, produces and markets a range of furniture items, including upholstered seating, wood case goods, bedroom collections, dining room sets and home décor accessories. Bassett is known for its emphasis on craftsmanship, offering both ready-to-assemble pieces and made-to-order products that cater to varying design preferences and space requirements.

Bassett’s products are sold through a dual-channel distribution network comprising company-owned Bassett Home Furnishings stores, a franchise and independent dealer network, and an e-commerce platform that provides online shopping, virtual design consultations and customization tools.