Bassett Furniture Industries (NASDAQ:BSET) Stock Rating Upgraded by StockNews.com

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

Bassett Furniture Industries Trading Up 4.5 %

Shares of NASDAQ:BSET traded up $0.61 on Thursday, reaching $14.25. 10,968 shares of the company traded hands, compared to its average volume of 17,673. Bassett Furniture Industries has a 52 week low of $12.10 and a 52 week high of $16.92. The business’s 50-day simple moving average is $14.57 and its 200 day simple moving average is $14.06. The stock has a market capitalization of $125.41 million, a P/E ratio of -7.31, a price-to-earnings-growth ratio of 1.15 and a beta of 1.69.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings results on Wednesday, October 9th. The company reported ($0.52) earnings per share (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 company had revenue of $75.62 million for the quarter, compared to the consensus estimate of $78.63 million. During the same quarter in the previous year, the business earned ($0.30) earnings per share. Sell-side analysts expect that Bassett Furniture Industries will post -0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Bassett Furniture Industries

Large investors have recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Bassett Furniture Industries by 51.9% during the third quarter. Barclays PLC now owns 10,124 shares of the company’s stock valued at $146,000 after acquiring an additional 3,459 shares during the last quarter. Empowered Funds LLC increased its holdings in Bassett Furniture Industries by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 25,419 shares of the company’s stock valued at $367,000 after purchasing an additional 1,206 shares during the period. Finally, Inspire Advisors LLC raised its position in Bassett Furniture Industries by 119.5% during the 2nd quarter. Inspire Advisors LLC now owns 26,055 shares of the company’s stock valued at $370,000 after purchasing an additional 14,183 shares during the last quarter. Institutional investors own 54.40% of the company’s stock.

Bassett Furniture Industries Company Profile

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.