Bassett Furniture Industries Inc. (NASDAQ:BSET) has earned an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.
Analysts have set a twelve-month consensus price objective of $35.00 for the company and are forecasting that the company will post $0.41 earnings per share for the current quarter, according to Zacks. Zacks has also given Bassett Furniture Industries an industry rank of 78 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research raised Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 30th.
Shares of Bassett Furniture Industries (NASDAQ:BSET) opened at 25.14 on Wednesday. The stock has a market cap of $274.13 million, a PE ratio of 16.64 and a beta of 1.02. Bassett Furniture Industries has a one year low of $22.97 and a one year high of $33.68. The stock’s 50 day moving average price is $25.09 and its 200-day moving average price is $27.85.
Bassett Furniture Industries (NASDAQ:BSET) last announced its earnings results on Thursday, June 30th. The company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.12. Bassett Furniture Industries had a net margin of 3.76% and a return on equity of 9.55%. The firm had revenue of $106.70 million for the quarter. During the same period in the prior year, the company earned $0.39 earnings per share. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. On average, equities analysts predict that Bassett Furniture Industries will post $1.49 earnings per share for the current fiscal year.
In related news, CEO Robert H. Spilman, Jr. purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The stock was acquired at an average price of $23.64 per share, for a total transaction of $94,560.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Paul Fulton purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The stock was bought at an average price of $23.96 per share, with a total value of $47,920.00. The disclosure for this purchase can be found here. 7.00% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Suntrust Banks Inc. raised its position in Bassett Furniture Industries by 0.5% in the second quarter. Suntrust Banks Inc. now owns 20,454 shares of the company’s stock worth $489,000 after buying an additional 98 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Bassett Furniture Industries by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 115,544 shares of the company’s stock valued at $2,766,000 after buying an additional 914 shares in the last quarter. Strs Ohio increased its stake in shares of Bassett Furniture Industries by 15.2% in the second quarter. Strs Ohio now owns 22,800 shares of the company’s stock valued at $545,000 after buying an additional 3,000 shares in the last quarter. Smith Asset Management Group LP increased its stake in shares of Bassett Furniture Industries by 69.8% in the second quarter. Smith Asset Management Group LP now owns 9,970 shares of the company’s stock valued at $239,000 after buying an additional 4,100 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Bassett Furniture Industries during the second quarter valued at about $136,000. Institutional investors and hedge funds own 71.64% of the company’s stock.
Bassett Furniture Industries Company Profile
Bassett Furniture Industries, Incorporated is a manufacturer, importer and retailer of home furnishings. The Company’s segments include Wholesale, Retail – Company-owned stores and Logistical services. Its wholesale home furnishings segment is involved in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (licensee-owned stores and Company-owned stores) and independent furniture retailers.
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