Bassett Furniture Industries (NASDAQ:BSET) Upgraded at Zacks Research

Zacks Research upgraded shares of Bassett Furniture Industries (NASDAQ:BSET) from a strong sell rating to a hold rating in a report published on Tuesday,Zacks.com reports.

BSET has been the subject of a number of other research reports. Wall Street Zen raised Bassett Furniture Industries from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bassett Furniture Industries in a research report on Wednesday, October 8th. Finally, Sidoti raised Bassett Furniture Industries to a “strong-buy” rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Bassett Furniture Industries Stock Performance

NASDAQ BSET opened at $16.76 on Tuesday. The firm has a market cap of $145.64 million, a price-to-earnings ratio of 18.62, a PEG ratio of 0.96 and a beta of 0.99. Bassett Furniture Industries has a one year low of $13.62 and a one year high of $19.75. The firm has a 50 day simple moving average of $15.76 and a 200-day simple moving average of $16.14.

Bassett Furniture Industries (NASDAQ:BSET) last announced its quarterly earnings data on Wednesday, October 8th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The company had revenue of $80.10 million for the quarter, compared to the consensus estimate of $79.89 million. Bassett Furniture Industries had a net margin of 2.35% and a return on equity of 4.67%. During the same period in the prior year, the firm posted ($0.52) EPS. Equities analysts predict that Bassett Furniture Industries will post 0.75 EPS for the current fiscal year.

Bassett Furniture Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Friday, November 14th. Bassett Furniture Industries’s payout ratio is 88.89%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. increased its holdings in shares of Bassett Furniture Industries by 97.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 24,840 shares of the company’s stock valued at $379,000 after purchasing an additional 12,258 shares during the period. Los Angeles Capital Management LLC purchased a new position in Bassett Furniture Industries during the second quarter valued at approximately $274,000. Ritholtz Wealth Management acquired a new position in Bassett Furniture Industries in the 2nd quarter valued at approximately $235,000. Hillsdale Investment Management Inc. purchased a new stake in Bassett Furniture Industries in the 2nd quarter worth approximately $247,000. Finally, Teton Advisors LLC purchased a new stake in Bassett Furniture Industries in the 3rd quarter worth approximately $156,000. Hedge funds and other institutional investors own 54.40% of the company’s stock.

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.