Bassett Furniture Industries (NASDAQ:BSET) Upgraded to “Strong-Buy” at Zacks Research

Bassett Furniture Industries (NASDAQ:BSET) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Weiss Ratings upgraded shares of Bassett Furniture Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 30th. Wall Street Zen raised shares of Bassett Furniture Industries from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy”.

Bassett Furniture Industries Trading Up 5.3%

BSET stock opened at $20.07 on Tuesday. The stock has a 50-day moving average price of $15.59 and a two-hundred day moving average price of $15.44. Bassett Furniture Industries has a 12-month low of $13.17 and a 12-month high of $20.99. The company has a market cap of $173.81 million, a PE ratio of 31.36, a price-to-earnings-growth ratio of 1.42 and a beta of 0.76.

Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings data on Wednesday, July 1st. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The company had revenue of $83.75 million for the quarter, compared to the consensus estimate of $83.32 million. Bassett Furniture Industries had a return on equity of 3.56% and a net margin of 1.65%.During the same period last year, the business posted $0.22 EPS. Equities analysts forecast that Bassett Furniture Industries will post 0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Bassett Furniture Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BSET. Russell Investments Group Ltd. lifted its holdings in Bassett Furniture Industries by 95.3% in the 4th quarter. Russell Investments Group Ltd. now owns 1,504 shares of the company’s stock worth $25,000 after buying an additional 734 shares in the last quarter. Group One Trading LLC acquired a new stake in shares of Bassett Furniture Industries during the second quarter valued at about $30,000. Empowered Funds LLC increased its position in shares of Bassett Furniture Industries by 7.9% during the first quarter. Empowered Funds LLC now owns 28,643 shares of the company’s stock worth $437,000 after acquiring an additional 2,089 shares during the last quarter. Motiv8 Investments LLC purchased a new stake in shares of Bassett Furniture Industries during the fourth quarter worth about $42,000. Finally, Nalls Sherbakoff Group LLC acquired a new position in shares of Bassett Furniture Industries in the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 54.40% of the company’s stock.

Bassett Furniture Industries News Summary

Here are the key news stories impacting Bassett Furniture Industries this week:

• Positive Sentiment: Sidoti raised multiple earnings estimates for Bassett Furniture, including FY2026 and FY2027 projections, signaling greater confidence in the company’s profit outlook.
• Positive Sentiment: Zacks highlighted Bassett as a “Bull of the Day,” noting that Memorial Day written sales rose 14% year over year, suggesting demand is holding up despite a weak housing market. Bull of the Day: Bassett Furniture (BSET)
• Positive Sentiment: The stock was added to Zacks’ Rank #1 (Strong Buy) momentum list, which may be reinforcing bullish trading interest. Best Momentum Stock to Buy for July 7th
• Positive Sentiment: Technical analysts pointed to a “golden cross,” where the 50-day moving average moved above the 200-day moving average, a pattern often viewed as a bullish signal. Bassett Furniture (BSET)’s Technical Outlook is Bright After Key Golden Cross
• Neutral Sentiment: Bassett recently beat quarterly EPS and revenue estimates, which supports the positive earnings narrative, but this was already reported earlier and is not the main new catalyst today.

Bassett Furniture Industries Company Profile

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.