Bassett Furniture Industries (NASDAQ:BSET) Stock Bumped Up to Strong-Buy by Freedom Broker

Freedom Broker upgraded shares of Bassett Furniture Industries (NASDAQ:BSET) from a hold rating to a strong-buy rating in a research report released on Thursday morning,Zacks reports.

Other analysts also recently issued reports about the stock. Zacks Research downgraded shares of Bassett Furniture Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Wall Street Zen upgraded shares of Bassett Furniture Industries from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Weiss Ratings upgraded shares of Bassett Furniture Industries from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Bassett Furniture Industries presently has an average rating of “Buy”.

Bassett Furniture Industries Stock Up 8.7%

NASDAQ:BSET opened at $20.72 on Thursday. The business’s 50-day moving average price is $18.78 and its 200 day moving average price is $16.89. The firm has a market cap of $179.39 million, a P/E ratio of 26.23, a PEG ratio of 1.38 and a beta of 0.72. Bassett Furniture Industries has a 52-week low of $13.17 and a 52-week high of $22.26.

Bassett Furniture Industries (NASDAQ:BSET) last issued its quarterly earnings results on Wednesday, September 30th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.13 by $0.11. Bassett Furniture Industries had a net margin of 2.02% and a return on equity of 4.36%. The firm had revenue of $82.84 million for the quarter, compared to analysts’ expectations of $82.77 million. Sell-side analysts expect that Bassett Furniture Industries will post 0.87 EPS for the current year.

Bassett Furniture Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a $0.20 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.9%. Bassett Furniture Industries’s dividend payout ratio (DPR) is 101.27%.

Institutional Trading of Bassett Furniture Industries

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Motiv8 Investments LLC acquired a new stake in shares of Bassett Furniture Industries during the fourth quarter valued at approximately $42,000. Nalls Sherbakoff Group LLC purchased a new stake in shares of Bassett Furniture Industries in the 4th quarter valued at approximately $46,000. Integrated Wealth Concepts LLC acquired a new position in Bassett Furniture Industries in the 2nd quarter worth approximately $59,000. Empowered Funds LLC boosted its stake in Bassett Furniture Industries by 9.2% in the 1st quarter. Empowered Funds LLC now owns 42,076 shares of the company’s stock worth $595,000 after purchasing an additional 3,532 shares during the period. Finally, Renaissance Technologies LLC grew its position in Bassett Furniture Industries by 4.0% during the 1st quarter. Renaissance Technologies LLC now owns 304,161 shares of the company’s stock worth $4,304,000 after purchasing an additional 11,700 shares in the last quarter. Institutional investors and hedge funds own 54.40% of the company’s stock.

About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated is a home furnishings company headquartered in Bassett, Virginia. Founded in 1902, the company built its heritage in wooden furniture and has expanded into a broader range of residential furnishings.

Bassett designs, manufactures, sources and sells products including upholstered furniture, bedroom and dining furniture, occasional tables, home office furnishings, mattresses, rugs, lighting and decorative accessories. Its offerings are marketed under the Bassett brand, with an emphasis on coordinated room collections, customization and design services.

The company serves consumers primarily in the United States through company-owned and licensed Bassett Home Furnishings stores, its website and other retail channels.