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

Bassett Furniture Industries (NASDAQ:BSET) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

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

Bassett Furniture Industries Trading Down 1.5%

BSET stock opened at $15.39 on Monday. The stock has a 50-day moving average price of $15.25 and a 200-day moving average price of $16.08. The firm has a market cap of $133.74 million, a PE ratio of 17.10, a price-to-earnings-growth ratio of 0.90 and a beta of 1.06. Bassett Furniture Industries has a 1-year low of $13.58 and a 1-year high of $19.75.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings results on Wednesday, October 8th. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. Bassett Furniture Industries had a net margin of 2.35% and a return on equity of 4.67%. The business had revenue of $80.10 million during the quarter, compared to analysts’ expectations of $79.89 million. During the same period last year, the company posted ($0.52) earnings per share. On average, analysts forecast that Bassett Furniture Industries will post 0.75 earnings per share for the current year.

Hedge Funds Weigh In On Bassett Furniture Industries

A number of hedge funds have recently bought and sold shares of the company. Kestra Private Wealth Services LLC purchased a new stake in shares of Bassett Furniture Industries in the third quarter valued at about $597,000. Bridgeway Capital Management LLC increased its stake in Bassett Furniture Industries by 4.5% in the 3rd quarter. Bridgeway Capital Management LLC now owns 83,043 shares of the company’s stock valued at $1,299,000 after buying an additional 3,609 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Bassett Furniture Industries during the 3rd quarter worth approximately $414,000. Teton Advisors LLC purchased a new position in shares of Bassett Furniture Industries in the 3rd quarter worth approximately $156,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Bassett Furniture Industries by 67.7% in the third quarter. JPMorgan Chase & Co. now owns 9,192 shares of the company’s stock valued at $144,000 after acquiring an additional 3,710 shares in the last quarter. 54.40% of the stock is owned by hedge funds and other institutional investors.

Bassett Furniture Industries Company Profile

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.