Bassett Furniture Industries (NASDAQ:BSET) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Bassett Furniture Industries (NASDAQ:BSET) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports.

Several other brokerages also recently weighed in on BSET. Wall Street Zen upgraded Bassett Furniture Industries from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Weiss Ratings raised shares of Bassett Furniture Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Bassett Furniture Industries Stock Up 5.3%

Bassett Furniture Industries stock opened at $20.07 on Tuesday. The company has a market capitalization of $173.81 million, a PE ratio of 31.36, a P/E/G ratio of 1.42 and a beta of 0.76. The firm has a fifty day simple moving average of $15.59 and a two-hundred day simple moving average of $15.44. Bassett Furniture Industries has a twelve month low of $13.17 and a twelve month high of $20.99.

Bassett Furniture Industries (NASDAQ:BSET) last announced its quarterly earnings data on Wednesday, July 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. Bassett Furniture Industries had a return on equity of 3.56% and a net margin of 1.65%.The firm had revenue of $83.75 million for the quarter, compared to analysts’ expectations of $83.32 million. During the same period last year, the firm earned $0.22 earnings per share. As a group, equities analysts expect that Bassett Furniture Industries will post 0.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bassett Furniture Industries

A number of large investors have recently made changes to their positions in BSET. Russell Investments Group Ltd. lifted its stake in Bassett Furniture Industries by 95.3% in the fourth quarter. Russell Investments Group Ltd. now owns 1,504 shares of the company’s stock worth $25,000 after acquiring an additional 734 shares during the period. Group One Trading LLC purchased a new position in Bassett Furniture Industries during the 2nd quarter valued at $30,000. Motiv8 Investments LLC bought a new position in Bassett Furniture Industries in the 4th quarter worth $42,000. Nalls Sherbakoff Group LLC purchased a new stake in shares of Bassett Furniture Industries in the 4th quarter worth about $46,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Bassett Furniture Industries in the 2nd quarter worth about $68,000. 54.40% of the stock is currently owned by institutional investors.

Bassett Furniture Industries News Roundup

Here are the key news stories impacting Bassett Furniture Industries this week:

• Positive Sentiment: Sidoti raised multiple earnings estimates for Bassett Furniture, including FY2026 and FY2027 projections, signaling greater confidence in the company’s profit outlook.
• Positive Sentiment: Zacks highlighted Bassett as a “Bull of the Day,” noting that Memorial Day written sales rose 14% year over year, suggesting demand is holding up despite a weak housing market. Bull of the Day: Bassett Furniture (BSET)
• Positive Sentiment: The stock was added to Zacks’ Rank #1 (Strong Buy) momentum list, which may be reinforcing bullish trading interest. Best Momentum Stock to Buy for July 7th
• Positive Sentiment: Technical analysts pointed to a “golden cross,” where the 50-day moving average moved above the 200-day moving average, a pattern often viewed as a bullish signal. Bassett Furniture (BSET)’s Technical Outlook is Bright After Key Golden Cross
• Neutral Sentiment: Bassett recently beat quarterly EPS and revenue estimates, which supports the positive earnings narrative, but this was already reported earlier and is not the main new catalyst today.

About Bassett Furniture Industries

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.