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

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

Bassett Furniture Industries Stock Up 1.7 %

NASDAQ BSET opened at $14.49 on Thursday. Bassett Furniture Industries has a 52 week low of $12.10 and a 52 week high of $16.92. The stock has a market capitalization of $127.51 million, a PE ratio of -7.43, a price-to-earnings-growth ratio of 1.07 and a beta of 1.69. The firm has a 50 day moving average of $14.57 and a two-hundred day moving average of $14.06.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings results on Wednesday, October 9th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.18). Bassett Furniture Industries had a negative return on equity of 3.47% and a negative net margin of 5.00%. The firm had revenue of $75.62 million for the quarter, compared to analyst estimates of $78.63 million. During the same quarter last year, the firm earned ($0.30) EPS. On average, equities research analysts expect that Bassett Furniture Industries will post -0.77 earnings per share for the current fiscal year.

Institutional Trading of Bassett Furniture Industries

A number of large investors have recently bought and sold shares of the business. Barclays PLC lifted its stake in shares of Bassett Furniture Industries by 51.9% in the 3rd quarter. Barclays PLC now owns 10,124 shares of the company’s stock worth $146,000 after acquiring an additional 3,459 shares during the period. Empowered Funds LLC lifted its stake in shares of Bassett Furniture Industries by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 25,419 shares of the company’s stock worth $367,000 after acquiring an additional 1,206 shares during the period. Finally, Inspire Advisors LLC lifted its stake in shares of Bassett Furniture Industries by 119.5% in the 2nd quarter. Inspire Advisors LLC now owns 26,055 shares of the company’s stock worth $370,000 after acquiring an additional 14,183 shares during the period. Institutional investors and hedge funds own 54.40% of the company’s stock.

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.