Bassett Furniture Industries (NASDAQ:BSET) Stock Rating Upgraded by Freedom Broker

Bassett Furniture Industries (NASDAQ:BSET) was upgraded by analysts at Freedom Broker from a “hold” rating to a “strong-buy” rating in a report issued on Thursday, Zacks reports.

A number of other equities analysts have also recently weighed in on BSET. Weiss Ratings raised shares of Bassett Furniture Industries from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, July 14th. Zacks Research lowered Bassett Furniture Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Finally, Wall Street Zen upgraded Bassett Furniture Industries from a “hold” rating to a “buy” rating in a research note on Saturday. Two investment analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy”.

Bassett Furniture Industries Trading Up 8.7%

NASDAQ BSET opened at $20.72 on Thursday. The company’s fifty day simple moving average is $18.78 and its 200-day simple moving average is $16.89. Bassett Furniture Industries has a 52 week low of $13.17 and a 52 week high of $22.26. The stock has a market cap of $179.39 million, a P/E ratio of 26.23, a PEG ratio of 1.38 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.11. Bassett Furniture Industries had a net margin of 2.02% and a return on equity of 4.36%. The business had revenue of $82.84 million during the quarter, compared to analyst estimates of $82.77 million. On average, research analysts expect that Bassett Furniture Industries will post 0.87 EPS for the current fiscal year.

Institutional Trading of Bassett Furniture Industries

A number of large investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new position in Bassett Furniture Industries in the 2nd quarter worth about $59,000. Aegis Financial Corp raised its holdings in shares of Bassett Furniture Industries by 4.4% during the second quarter. Aegis Financial Corp now owns 550,413 shares of the company’s stock valued at $9,753,000 after buying an additional 23,416 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Bassett Furniture Industries during the second quarter valued at approximately $746,000. Bank of America Corp DE acquired a new position in shares of Bassett Furniture Industries during the second quarter worth approximately $246,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Bassett Furniture Industries during the second quarter worth approximately $485,000. Institutional investors and hedge funds own 54.40% of the company’s stock.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Incorporated is a home furnishings company headquartered in Bassett, Virginia. Founded in 1902, the company built its heritage in wooden furniture and has expanded into a broader range of residential furnishings.

Bassett designs, manufactures, sources and sells products including upholstered furniture, bedroom and dining furniture, occasional tables, home office furnishings, mattresses, rugs, lighting and decorative accessories. Its offerings are marketed under the Bassett brand, with an emphasis on coordinated room collections, customization and design services.

The company serves consumers primarily in the United States through company-owned and licensed Bassett Home Furnishings stores, its website and other retail channels.