StockNews.com Upgrades Bassett Furniture Industries (NASDAQ:BSET) to “Buy”

Bassett Furniture Industries (NASDAQ:BSET) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

Bassett Furniture Industries Stock Down 0.4 %

Shares of Bassett Furniture Industries stock opened at $14.56 on Friday. Bassett Furniture Industries has a 52 week low of $12.10 and a 52 week high of $16.00. The business has a 50 day moving average price of $14.23 and a 200-day moving average price of $14.03. The company has a market cap of $128.13 million, a PE ratio of -13.24, a price-to-earnings-growth ratio of 1.11 and a beta of 1.69.

Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings results on Wednesday, January 29th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.33. Bassett Furniture Industries had a negative return on equity of 2.42% and a negative net margin of 2.94%. As a group, research analysts anticipate that Bassett Furniture Industries will post 0.8 EPS for the current year.

Institutional Trading of Bassett Furniture Industries

An institutional investor recently raised its position in Bassett Furniture Industries stock. Empowered Funds LLC lifted its holdings in shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,554 shares of the company’s stock after purchasing an additional 1,135 shares during the period. Empowered Funds LLC owned about 0.30% of Bassett Furniture Industries worth $367,000 at the end of the most recent reporting period. 54.40% of the stock is owned by institutional investors and hedge funds.

About Bassett Furniture Industries

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.