Bassett Furniture Industries Inc. (BSET) Receives $21.00 Consensus Price Target from Brokerages

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Bassett Furniture Industries Inc. (NASDAQ:BSET) has been assigned a consensus recommendation of “Hold” from the six research firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $21.00.

Several equities analysts recently issued reports on the company. ValuEngine raised Bassett Furniture Industries from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 31st. Zacks Investment Research raised Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 27th.

Shares of Bassett Furniture Industries stock traded up $0.25 during midday trading on Friday, hitting $18.88. The company had a trading volume of 1,203 shares, compared to its average volume of 28,686. The company has a market capitalization of $196.36 million, a P/E ratio of 19.37 and a beta of 0.65. Bassett Furniture Industries has a 52-week low of $18.10 and a 52-week high of $34.95.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings results on Thursday, January 17th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.19). The company had revenue of $116.65 million during the quarter, compared to analysts’ expectations of $118.84 million. Bassett Furniture Industries had a return on equity of 5.42% and a net margin of 1.80%. Research analysts predict that Bassett Furniture Industries will post 0.96 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 15th will be given a $0.125 dividend. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $0.50 annualized dividend and a yield of 2.65%. Bassett Furniture Industries’s dividend payout ratio (DPR) is presently 51.55%.

In related news, SVP Mark S. Jordan sold 3,100 shares of the company’s stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $19.03, for a total value of $58,993.00. Following the transaction, the senior vice president now directly owns 17,020 shares of the company’s stock, valued at approximately $323,890.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.54% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in Bassett Furniture Industries by 1.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 903,484 shares of the company’s stock valued at $19,199,000 after acquiring an additional 9,283 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in Bassett Furniture Industries by 1.1% in the 4th quarter. Gamco Investors INC. ET AL now owns 881,650 shares of the company’s stock valued at $17,668,000 after acquiring an additional 9,276 shares in the last quarter. BlackRock Inc. lifted its position in Bassett Furniture Industries by 4.5% in the 4th quarter. BlackRock Inc. now owns 787,953 shares of the company’s stock valued at $15,791,000 after acquiring an additional 33,581 shares in the last quarter. Renaissance Technologies LLC lifted its position in Bassett Furniture Industries by 7.4% in the 3rd quarter. Renaissance Technologies LLC now owns 773,000 shares of the company’s stock valued at $16,426,000 after acquiring an additional 53,001 shares in the last quarter. Finally, Vanguard Group Inc lifted its position in Bassett Furniture Industries by 3.3% in the 3rd quarter. Vanguard Group Inc now owns 488,908 shares of the company’s stock valued at $10,389,000 after acquiring an additional 15,527 shares in the last quarter. 73.32% of the stock is currently owned by institutional investors and hedge funds.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail, and Logistical Services. The company engages in the design, manufacture, sourcing, distribution, and sale of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings retail stores, as well as independent furniture retailers; and wood and upholstery operations.

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