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

Bassett Furniture Industries (NASDAQ:BSET) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

BSET has been the topic of several other reports. Weiss Ratings reissued a “hold (c)” rating on shares of Bassett Furniture Industries in a report on Wednesday, January 21st. Zacks Research raised Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Bassett Furniture Industries has an average rating of “Moderate Buy”.

Bassett Furniture Industries Price Performance

NASDAQ:BSET 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 company has a 50-day moving average of $16.41 and a 200 day moving average of $16.08. The firm has a market cap of $136.95 million, a PE ratio of 22.51, a price-to-earnings-growth ratio of 0.91 and a beta of 0.99.

Bassett Furniture Industries (NASDAQ:BSET) last posted 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 net margin of 1.82% and a return on equity of 3.90%. The business had revenue of $88.67 million for the quarter, compared to analysts’ expectations of $86.90 million. Sell-side analysts anticipate that Bassett Furniture Industries will post 0.75 EPS for the current fiscal year.

Institutional Trading of Bassett Furniture Industries

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in Bassett Furniture Industries by 114.3% during the 2nd quarter. Geode Capital Management LLC now owns 190,182 shares of the company’s stock valued at $2,892,000 after buying an additional 101,448 shares in the last quarter. Kestra Private Wealth Services LLC purchased a new stake in shares of Bassett Furniture Industries during the third quarter worth about $597,000. Squarepoint Ops LLC acquired 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 in the 2nd quarter valued at approximately $274,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in Bassett Furniture Industries in the 2nd quarter worth approximately $247,000. Institutional investors and hedge funds 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.